Saudi Binladin Group names new chief transformation officer

Saudi Binladin Group names new chief transformation officer

Saudi Binladin Group (SBG), a subsidiary of the Binladin International Holding Group (BIHG) and also the largest construction company in the kingdom, has appointed contracting industry veteran Grigoris Christofides as its new chief transformation officer. Christofides has spent more than 35 years in the contracting industry, and joins SBG at a crucial time in its history; amidst a group-wide transformation programme designed to see BIHG absorb, rebuild, and reinvent SBG under the mandate of its board of directors. BIHG is a diversified conglomerate, established in 2019, in collaboration with the Istidama Holding Company, a subsidiary of Saudi Arabia's Ministry of Finance, which holds a 36.22% stake in the Group. Christofides officially took up his position at the beginning of this month. In his new role, he will work closely with SBG's management and BIHG's board, along with appointed advisors, to oversee the execution of the transformation of SBG, to ensure value maximisation for all concerned stakeholders, said the statement from BIHG. Working with the CEO of SBG Contracting, he will lead the business' repositioning efforts to achieve a sustainable balance sheet across the organisation's global, financial and operational divisions, it stated. Welcoming the appointment, CEO Khalid Al Gwaiz said: "The appointment of Christofides comes as