Red Sea terminates CEO, names Ghassan Al-Ashkar as Acting CEO

06/04/2025 Argaam
Logo ofRed Sea International Co.

Logo of Red Sea International Co.

Red Sea International Co.’s board of directors decided today, April 6, to terminate the contract of current CEO Marwan Sayegh, effective immediately.

 

In a statement to Tadawul, the company said the board appointed Ghassan Al-Ashkar as Acting CEO starting today, until a new CEO is appointed.

 

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According to the company, Al-Ashkar as Senior Vice President of Finance at Jeddah Economic Co., from February 2017 until 2024.

 

He also served as Manager of Institutional Development, Board Secretary, and Member of the Executive, Audit and Nominations & Remuneration Committees at CPC Holding Co. (affiliated with Saudi Binladin Group) from September 2014 to February 2017, before running as Financial Manager from September 2010 to September 2014.

 

From January 2002 to mid-2005, Al-Ashkar served as Financial Manager of Saudi Elevators Co. Ltd. Earlier, he acted as Financial Controller at Al-Mabani General Contracting Co. from September 1994 to January 2002, prior to being its Finance and Accounting Manager from January 1992 to September 1994.

 

The company noted that Al-Ashkar holds a Bachelor’s Degree in Economics from the American University of Beirut, Lebanon.

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