Keir names CFO as acting CEO amid restructuring plans

Nomu-listed telecom contractor Keir International tapped CFO Yaman Aydin to serve as acting CEO, effective yesterday, according to a Tadawul disclosure. Aydin brings more than 20 years of experience in financial management and accounting, including CFO roles across regional markets. He assumed the role following the resignation of Abdulaziz Al Shahrani.

Aydin steps into the driver’s seat at a critical moment: Keir is currently buried under SAR 148.4 mn in accumulated losses, representing 123.7% of its capital. Shareholders have already approved transferring the company's entire SAR 13.5 mn statutory reserve and SAR 41.7 mn share premium balance to absorb a portion of the red ink. The company is now weighing capital restructuring measures, tighter collections, and cost-cutting efforts ahead of a shareholder meeting on 1 November to consider its continuation.