Riyadh - Mubasher: Allied Cooperative Insurance Group (ACIG) appointed Hamad bin Abdulaziz Al Mushari as its new CEO, effective from 23 November 2025, according to a bourse filing.

The decision follows the board resolution on 13 November of accepting Mohammed bin Abdullah Al Ghadi’s resignation from his position as a CEO as of 22 November 2025.

Moreover, Almunajem Foods Company named Ali Hasan El Zain its new CEO as of 1 January 2026, according to another bourse filing.

The appointment follows the board’s acceptance of the outgoing CEO Thamer bin Abdulaziz Abanumay’s resignation. Meanwhile, Abanumay will continue in his position as a board member.

It is worth noting that during the first nine months (9M) of 2025, the net profit of Almunajem Food reached SAR 102.70 million, signaling a 52.95% year-on-year (YoY) drop from SAR 218.30 million.