Red Sea International names Ghassan Nassief CEO

Ghassan Nassief (LinkedIn) took over as group CEO of Red Sea International, replacing Hani Baothman, according to a Tadawul filing. Nassief brings more than 25 years of experience across corporate banking, financial advisory, and restructuring, most recently as managing director of Teneo Saudi Arabia. He founded GNN Financial Advisory and held senior roles at Emirates Islamic Bank, Saudi Hollandi Bank, NCB, Bank Albilad, SABB, and Banque Saudi Fransi.

The restructuring context: Baothman steps down after completing a restructuring program that wound down the company’s unprofitable international operations and refocused it on its core oil and gas business at the Jubail facility. He stays on as managing director to see through the company’s strategic priorities, including a planned capital increase.