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RIYADH: Shares of Nayifat Finance co. rose following its announcement that it named Bandar Al-Baiz as CEO and managing director of the company following formal approval by its board, a bourse filing shows.
Nayifat’s shares increased by 2.18 percent to reach SR23.44 ($6) at the end of Tuesday’s trading.
The new CEO’s appointment follows the resignation of CEO Abdulmohsen Musaed Al-Sowailem in May and the appointment of Chan Kok Veng as its acting chief in June.
The Islamic finance firm has also announced the appointment of Saleh Al Omair as a chairman and Abdulmohsen Al-Saleh as a vice chairman.