RIYADH: Al Hammadi Co. for Development and Investment said its general assembly approved its rise of capital and the appointment of a new CEO.
The company's shareholders approved a capital increase of 33.33 percent to SR1.6 billion ($427 million), according to a bourse filing
In a separate statement, the company said that Mohammed Alhammadi will serve as its CEO and managing director.
As part of the changes, Saleh Alhammadi was appointed chairman of the board, whereas, Abdulaziz Alhammadi will take charge as the vice chairman.
