Saudi’s Arab National Bank CEO quits post after 15 years

Saudi’s Arab National Bank CEO quits post after 15 years

The CEO of Saudi Arabia's Arab National Bank has quit his post after more than 15 years with the company.Dr. Robert Eid, who has been the managing director and CEO of the bank since 2005, submitted his resignation on September 22, 2020 due to personal reasons, the bank told the Saudi Stock Exchange (Tadawul).The announcement comes shortly after the lender's net profits for the second quarter of the year nearly halved, and at a time when banks across the Gulf are facing headwinds related to the coronavirus pandemic and low oil prices.The bank said on Tuesday that its board of directors has resolved to accept Eid's resignation with effect from January 2, 2021.“The board of directors extends its gratitude and appreciation to Dr. Robert Eid for his sincere and continuous