AFG International Co. (Cenomi Retail) Announces the Resignation of the CEO and Appointment of new CEO
| Element List | Explanation |
|---|---|
| Introduction | AFG International Company (Cenomi Retail) announces that the Board of Directors resolution to accept the resignation of the Company's Chief Executive Officer, Mr. Salim Fakhouri, at his personal request, effective from 31/10/2026, which coincides with the expiry date of his employment contract. |
The Board of Directors extends its appreciation to Mr. Salim Fakhouri for his contributions during his time with the Company.
The Board of Directors has also resolved to appoint Mr. Sameer Jain as the CEO of the company, effective from 01/07/2026.
Jain joins AFG International at a pivotal stage in the company's evolution as it advances its transformation agenda, strengthens strategic execution, and pursues its next phase of growth and long-term value creation.
The appointment follows AlFuttaim's acquisition of a 49.95% stake in the company in 2025, marking the start of a new chapter focused on operational excellence, customer-centric innovation, digital transformation, and sustainable growth.
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Salim Fakhouri |
| Resignation Acceptance Date | 2026-06-22 Corresponding to 1448-01-07 |
| Resignation Effective Date | 2026-10-31 Corresponding to 1448-05-20 |
| Reasons for Resignation | at his personal request |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Sameer Jain |
| Date of Board Resolution | 2026-06-22 Corresponding to 1448-01-07 |
| Date Work Commencement | 2026-07-01 Corresponding to 1448-01-16 |
| Brief Resume | Jain brings more than two decades of leadership experience across retail, consumer businesses, strategy, and transformation. Most recently, he served as Chief Executive Officer of New Business and Home Centre Middle East at Landmark Group. Earlier in his career, he held leadership and advisory roles at McKinsey & Company, A.T. Kearney, and Ernst & Young. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.