Two companies listed on the Saudi Exchange announced significant leadership changes in August 2026, involving both Dar Albalad for Business Solutions Co. and Saudi Advanced Industries Company (SAIC).
On 16 August 2026, the Board of Directors of Riyadh-based Dar Albalad for Business Solutions Co. — listed under symbol 7205 (DBS) — approved the appointment of Eng. Bassam bin Ibrahim bin Salamah as an Executive Board Member, filling a vacant seat effective the same date until the end of the current board term. On the same day, the Board named him as Managing Director, succeeding Eng. Abdulaziz bin Ibrahim bin Salamah, who remains on the Board as a Non-Executive Director at his own request. The appointment of Bassam bin Ibrahim bin Salamah as Executive Director is subject to endorsement at the company's first General Assembly meeting.
Dar Albalad shares traded at around SAR 11–12 with active daily trading volumes in the order of 1.5 million shares.
Meanwhile, the Board of Saudi Advanced Industries Company approved the non-renewal of the contract of CEO Khalid Saeed Abukhadhra upon its expiry, accepting his request not to renew. On 11 August 2026, the Board resolved to appoint Fares Abdulrahman Al-Fares as the new Chief Executive Officer, with his work commencement date set as 13 October 2026. SAIC's current Board term was elected on 25 June 2025 and runs for four Gregorian years.
In a related development, SAIC has signed a non-binding memorandum of understanding to acquire up to 100% of the shares of Dar Albalad Business Solutions Co., including its rights and obligations. These corporate actions are formally disclosed through Saudi Exchange issuer announcements, giving investors and the wider business community visibility on the direction of both firms.
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