Cenomi Retail taps Sameer Jain as its new CEO

Cenomi Retail appointed Sameer Jain (LinkedIn) as its new CEO effective next month, according to a statement (pdf). Jain succeeds Salim Fakhouri (LinkedIn), who resigned from the position. Jain brings more than two decades of experience across retail and consumer businesses, recently serving as CEO of New Business and Home Centre Middle East at Landmark Group. He previously held leadership and advisory roles at McKinsey & Company, AT Kearney, and Ernst & Young.

Cenomi has been going through a rough patch: The Capital Markets Authority took 17 unnamed suspects — a mix of current and former board members, an unnamed CEO, several finance managers, and members of the audit team at the company's former external auditor — to the criminal court last month over alleged manipulation of the stock price.