Mubasher: Senergy Holding has announced the resignation of its CEO, Nasser Badr Al Shahran.

The board of the company has accepted the resignation of Nasser, who will maintain his position as a deputy chairman.

Mohammad Hamad Al Salem will be appointed as the new CEO as of 11 June, according to a bourse statement.

Senergy reported a 4.5% year-on-year increase in losses during the first quarter of 2019, recording KWD 206,960 ($682,700).