Neom appointed Aiman Al Mudaifer as its new CEO and Managing Director after serving as acting CEO for months, it said in a statement. Al Mudaifer sits on several boards of Public Investment Fund (PIF) portfolio companies and previously headed the local real estate division at the fund. He also held executive positions at Al Akaria, Shomoul Holding, and Al Andalus Real Estate.

IN CONTEXT- The decision came in line with previous expectations that Al Mudaifer, who was appointed as acting CEO in November 2024, would take on the role permanently following the departure of longtime chief Nadhmi Al Nasr. Neom has reportedly been subject to a comprehensive review under Al Mudaifer’s stewardship amid growing pressure to deliver results. This came as Neom projects face delays or downsizing amid lower oil prices and declining foreign investment.

To replace Al Mudaifer’s PIF role, Saad Alkroud (LinkedIn) was appointed as head of the local real estate investment division, the PIF said in a press release. Alkroud joined the PIF in 2016 and became Chief of Staff in 2021; now, he will oversee the fund’s local infrastructure investments, including gigaprojects.

ALSO- Maram Al Johani (LinkedIn) was named Acting Chief of Staff and Secretary General to the PIF Board of Directors. Al Johani, who joined the PIF in 2017 and most recently led the Data and Committee Governance and Advisory Department, will oversee strategic planning, project management, and portfolio company affairs, as well as international and local stakeholder relations.

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