Riyadh Steel, Saudi Arabia’s steel producer, announced in a stock exchange filing that its board of directors has accepted the resignation of CEO Ahmed bin Abdulkarim Al-Nafea.
The filing also confirmed that Al-Nafea’s resignation from the board of directors and its affiliated committees has been approved.
Abdullah Radhwan Ali has been appointed as acting CEO, effective December 31, 2024, the company said.
Riyadh Steel has an annual production capacity of 220,000 tons of sheared scrap, 105,000 tons of billets, and 90,000 tons of angle and flat bars.
