MEDGULF appoints Omar bin Abdulrahman as new CEO

The Mediterranean and Gulf Insurance and Reinsurance Co.’s (MEDGULF) board of directors approved the resignation of its Chief Executive Officer (CEO), Tariq bin Abdullah Al-Naim, submitted on Dec. 2, 2020 and will be effective as of Dec. 6.

Al-Naim stepped down citing personal reasons, the company said in a bourse filing on Thursday.

The board appointed the Chief Operating Officer (COO), Omar bin Abdulrahman Al Mahmoud, as an acting CEO from Dec. 6.

Al Mahmoud will also carry out his current duties, until completing the justifications for appointing a CEO and obtaining the no-objection letter from the Saudi Central Bank (SAMA).

He holds a bachelor’s degree from King Fahd University of Petroleum and Minerals in Management Information Systems (MIS). He also held many leadership positions during his tenure in the insurance sector for a period of more than 17 years.