Pace of CEO resignations at listed KSA firms picked up amid pandemic

  • Date: 31-Jul-2021
  • Source: Arab News
  • Sector:Economy
  • Country:Saudi Arabia
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Pace of CEO resignations at listed KSA firms picked up amid pandemic



RIYADH: Saudi Arabian listed companies lost CEOs at twice the average annual pace in the first half of the year as the stresses of the pandemic took their toll.  
There were 128 CEO resignations from 97 companies listed on the Tadawul’s main and parallel markets over the past five years for an average of about 25 a year, according to a study by the Capital Market Authority (CMA). However, 26 CEOs resigned in the past six months, Maaal newspaper reported. The largest number of resignations over the past five years came from the telecommunications sector and the real estate management and development sector with six and 13 resignations, respectively, the study showed.