Riyadh – Mubasher: Alwasail Industrial Company has officially announced the resignation of its CEO, Abdulqader bin Abdullah Abdulaziz Al Mushaiqeh.
The decision, confirmed by the company’s Board of Directors through a resolution by circulation on 28 June 2026, marks a significant leadership transition for the industrial firm.
Al Mushaiqeh is scheduled to formally vacate his executive position on 31 July 2026, citing personal circumstances as the primary driver behind his departure from the day-to-day operations of the company.
The resignation of Mr. Al Mushaiqeh concludes a tenure characterized by substantial structural development and strategic expansion for Alwasail Industrial.
While the executive will step down from his role as CEO at the end of July 2026, the company confirmed that his institutional knowledge will remain within the organization, as he is set to continue his service as a member of the board of directors.
In its official statement, Alwasail Industrial expressed profound gratitude for the outgoing CEO’s contributions. The Board highlighted his pivotal role in steering the company through critical phases of growth, most notably his leadership during the company’s transition and subsequent listing on the Main Market of the Saudi Exchange (Tadawul).
This milestone was a cornerstone of his tenure, reflecting his commitment to enhancing the company’s market presence and aligning its operations with the rigorous standards required for major public listings.
The company further elaborated that the leadership change is viewed as an opportunity to introduce new perspectives into the executive management team.
This transition is intended to support the company’s ongoing efforts to modernize its operations, ensure the sustainability of its growth trajectories, and fulfill its long-term strategic objectives.
By facilitating a smooth handover period between the board’s approval in June and the effective resignation date in late July, the company aims to maintain operational stability while preparing for a new phase of corporate evolution.
During his period as CEO, Mr. Al Mushaiqeh was credited with the successful implementation of various strategic initiatives that bolstered the company’s business growth.
The board’s acknowledgment emphasized his dedication and the tangible achievements reached under his guidance, which have positioned Alwasail Industrial as a competitive player within the industrial sector.
The transition plan ensures that the company will continue to benefit from his extensive experience and professional history through his ongoing board membership, providing a level of continuity during the search for and appointment of a successor.
The Board of Directors concluded their announcement by wishing Al Mushaiqeh continued success in his future endeavors, reiterating that his departure from the executive office is a move made in alignment with the company’s broader vision for leadership renewal and strategic development.
Shareholders and market participants will be monitoring the company for further announcements regarding the appointment of a new CEO to lead the firm beyond the 31 July effective date.
The announcement reflects Alwasail Industrial’s commitment to transparency and regulatory compliance as it navigates this change in its top executive tier.
By providing a clear timeline for the resignation and outlining the continued involvement of the outgoing CEO at the board level, the company seeks to reassure investors of its commitment to strategic stability and institutional growth.
