2 February 2016
Jeddah, Saudi Arabia – 2 February 2016: Alkhabeer Capital, the asset management and investment firm based in Jeddah, Saudi Arabia, announced today that it has appointed Muhanad Hayder Binladen and Mohammed Abdulrahman Moumena to its Board of Directors.
Muhanad Binladen and Mohammed Moumena joined the Board effective January 3, 2016, resulting in a full Board comprised of five non-independent members and four independent members, reflecting a redistribution of one in favor of independent directors.
A prominent business executive with extensive experience across a wide range of sectors, Mohammed Moumena will serve in an independent capacity on the Board. Mr. Moumena currently sits on the boards of Fransa Invest Bank, the Middle East Healthcare Company and the Al Wedad Charity Foundation, the first Saudi foundation dedicated to orphan care. Mr. Moumena is also CEO of the Moumena Investment Group; a family business dedicated to real estate development, hospitality and diversified investments in Saudi Arabia and abroad. Mr. Moumena is also the Managing Partner at Edward W. Kelley & Partners, a global executive search firm.
Muhanad Binladen, who joins the Board as a non-independent director, holds a Master of Science degree in Innovation and Technology Management from Grenoble Graduate School of Business, and is a graduate of King Fahad University of Petroleum & Minerals. He previously served as the Assistant General Manager of Administration and Finance at the Mohammad Binladin Company and Chief Accountant at the Binladen Industrial Company.
“It is my pleasure to welcome both Mohammed and Muhanad to Alkhabeer’s Board of Directors,” said Musaad Aldrees, Chairman of the Board. “The confidence vested in them by shareholders demonstrates our commitment to strong corporate governance, through a board that reflects a wide range of business spectra, capable of steering the company towards achieving industry-leading position and strong stakeholder’s value.”
Ammar A. Shata, Executive Director and CEO of Alkhabeer Capital added, “The wealth of experience and insight that Muhanad Binladen and Mohammed Moumena both bring to the team will prove invaluable during this period of growth. I am confident that they will be instrumental in supplementing Alkhabeer’s short and long-term strategies.”
Alkhabeer Capital is a leading asset management and investment firm, authorized by the Capital Market Authority (license number 07074-37).