Saudi Cable appoints Fares Al Rajhi as new managing director

The Saudi Cable Company tapped Fares bin Mansour Al Rajhi (bio) as its new managing director, it said in a Tadawul disclosure. Al Rajhi succeeds Khalid Khashogji (LinkedIn), who stepped down from the role to focus on the company’s next phase while retaining his positions as CEO and board member

Al Rajhi has over 20 years of experience in corporate management, business development, and overseeing commercial and industrial entities. He has served as CEO of Dukhoon Al Wataniyah Trading Company, Nafaes Dukhoon Perfumes Company, and Aqdar wa Namaa Real Estate Company, and held board positions at Tourism Enterprise (Shams), Methanol Chemicals (Chemanol), Qabas Al Taqnia Trading Company, Company of World Box Factory, and Al Hekaliyah Construction Company.

Why it matters: This leadership shuffle marks Saudi Cable’s shift from survival to recovery. After the Jeddah Commercial Court approved its exit from financial restructuring last month, the company is signaling to its creditors that it is moving toward independent operations. Amid a nine-year Zakat settlement and a SAR 108 mn loan rescheduling, the split of CEO and MD roles allows Khashogji to focus on strategic priorities and debt capitalization, while Al Rajhi rebuilds operational capacity to achieve the company’s break-even target.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)