Saudi Arabian Military Industries names Ahmed Al-Khatib as chairman

Newly established Saudi Arabian Military Industries (SAMI) has appointed Ahmed Al-Khatib as chairman, it said in a statement Tuesday.

"It is a great honor to be assigned to lead this new national entity, which will play a key role in diversifying the national economy in accordance with Vision 2030. The diversity of expertise and government representation in the board emphasizes the company's commitment to a 50 percent Saudization rate, which will create more quality jobs for Saudis,” Al-Khatib said.

SAMI’s board comprises Prince Faisal Bin Farhan Al Saud, Khalid Al-Falih, Ghassan Al-Sulaiman, Ghassan Al-Shibl, and Abdulaziz Al-Suwailem, in addition to three international military industry experts who will join the board later.

Andreas Schwer, the German military industry expert, was appointed as chief executive officer to start by the end of this year. Before joining the firm, he served as Chairman and CEO of Rheinmetall International.

SAMI has recently signed memorandums of understanding (MoUs) with major international military companies, including Boeing, Lockheed Martin, Raytheon, General Dynamics and Rosoboronexport, to support the ongoing development of its four main areas of activity: aviation systems, ground systems, weapons, ammunition and missiles, and defense electronics.

In May, Saudi Arabia’s Public Investment Fund (PIF) revealed plans to set up a wholly government-owned national military company, SAMI, to become one of the world’s top 25 defense companies by 2030.