{"id":91553,"date":"2024-11-14T00:00:00","date_gmt":"2024-11-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/14\/pif-companies-leadership-in-focus\/"},"modified":"2024-11-14T00:00:00","modified_gmt":"2024-11-14T00:00:00","slug":"pif-companies-leadership-in-focus","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/14\/pif-companies-leadership-in-focus\/","title":{"rendered":"PIF companies\u2019 leadership in focus"},"content":{"rendered":"

F<\/strong>ormer CEO of PIF-baked developer <\/strong>Roshn<\/strong> David Grover <\/strong>is suing the company for USD<\/strong> 100 mn in unpaid bonuses and contractual earnings,<\/strong> the Financial Times<\/a> reports. The case, filed in Riyadh, claims wrongful termination and unpaid performance-related bonuses, tied to Vision 2030 targets. The appeal will be reviewed in court later this month.<\/p>\n

The Riyadh-based developer defended its decision to terminate Grover\u2019s contract<\/strong>, citing a conflict of interest over him allegedly renting his own apartments in France to company executives for a Cannes conference, the FT added, citing people it says are familiar with the situation. Grover later denied the claim was later denied by Grover, who said that the move was approved as a cost-saving measure.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Neom\u2019s CEO change is also continuing to make the rounds.<\/strong> The foreign press is looking at the Kingdom's evolving approach to mega-projects, including potential downscaling of the futuristic city amid a widening budget deficit. The PIF company tapped Aiman Al Mudaifer<\/a> as its acting CEO, after its longtime CEO Nadhmi Al Nasr stepped down with no stated reason. The story got ink in the Wall Street Journal<\/a>, Financial Times<\/a>, Reuters<\/a>, and the Guardian<\/a>.<\/p>\n

Neom is also getting ink from <\/strong>Reuters<\/a><\/strong>, which looks at the status of the mega project\u2019s <\/strong>completion plans<\/strong>, quoting a handful of sources as saying that sports will be a key priority moving forward. <\/p>\n","protected":false},"excerpt":{"rendered":"

Former Roshn CEO is suing the PIF-backed developer<\/p>\n","protected":false},"author":1,"featured_media":91554,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2561],"tags":[10,100,1151,2692,229],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-enterpriseam-ksa","tag-neom","tag-public-investment-fund-pif","tag-roshn","tag-saudi-in-the-news","wpautop","entry"],"acf":{"mongo_id":"4ba3678b-5cd9-4a9c-9a34-d82e26262e52","order":"12","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1025.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Int\u2019l press focused on old, new CEOs of PIF companies","related_issue":[91530],"teaser":"Former Roshn CEO is suing the PIF-backed developer","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.5f382014-2c1c-4b05-ab7a-8ad823efaf12.mp3"},"yoast_head":"\nPIF companies\u2019 leadership in focus - 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