Riyadh - Mubasher: Modern Mills for Food Products Company has officially announced a transition in its top executive leadership. Following a decision by the Board of Directors on 20 June 2026, the company has appointed Majed Mazen Nofal as its new CEO.

This appointment marks the conclusion of the interim leadership period held by Ahmed Abdul Karim Hegazy, who has served as the acting CEO since 23 February 2026.

The leadership change is scheduled to take effect on 1 July 2026. According to the regulatory filing on the Saudi Exchange (Tadawul), the conclusion of Hegazy’s assignment as acting CEO does not signal his departure from the company’s executive team. Instead, he will return to his original substantive position as the Vice President of the Feed Sector.

The Board of Directors expressed its formal appreciation and gratitude to Hegazy for his dedicated efforts and stewardship during his tenure as the acting head of the organization, ensuring a stable management environment until the handover to the new permanent Chief Executive.

Nofal resigned from his positions as an independent member of the Board of Directors and Chairman of the Nomination and Remuneration Committee.

The incoming CEO brings a comprehensive professional background to Modern Mills Company, characterized by over 25 years of experience in high-level corporate management.

His career has spanned several vital industries, including food production, fast-moving consumer goods (FMCG), and industrial manufacturing across both the Kingdom of Saudi Arabia and the broader Middle East region.

Nofal has previously held numerous senior roles, including Chief Executive Officer and board member positions at various major corporations.

His professional record is defined by a focus on business transformation and operational performance enhancement. His expertise includes the establishment of new ventures, the integration of mergers and acquisitions, and the large-scale optimization of procurement and supply chain operations.

Furthermore, he has a history of leading corporate productivity programs and strategic initiatives, including digital transformation projects powered by SAP systems. His previous leadership roles have been associated with achieving tangible growth and the improvement of profit margins through the redesign of corporate operating models.

Nofal holds a Bachelor’s degree in Accounting from the College of Business Administration at King Saud University, which he completed in 1992. He has further bolstered his executive credentials through specialized programs at prestigious international institutions.

He completed the Executive Leadership and Strategy Development program at the International Institute for Management Development (IMD) and holds a certification in International Finance from the INSEAD business school.