Nadhmi Al-Nasr
New CEO named for Neom mega city project
JEDDAH, July 3, 2018
Nadhmi Al-Nasr, the interim president for King Abdullah University of Science and Technology (KAUST), has been appointed the new CEO of Neom, a mega city planned in Saudi Arabia.
The decision follows the appointment of Klaus Kleinfeld, the CEO of the project, as an adviser to Crown Prince Mohammed bin Salman, reports said.
Kleinfeld, who had been tasked with developing the Neom project in northern Saudi Arabia, will take over wider responsibilities to enhance the economic, technological and financial development of Saudi Arabia, said a report in Arab News, which quoted a statement.
The German, who is former chairman and CEO of Alcoa and former president and CEO of Siemens, will begin his role on August 1, 2018.
Al-Nasr, who has over 30 plus years of experience with Saudi Aramco and KAUST, had worked on developing the strategy and development of Neom Bay, one of the initial stages of Neom's development, the report said.
The $500 billion mega city on the Red Sea coast is part of a huge national push to diversify Saudi Arabia's economy. Kleinfeld will retain a role as a board member at Neom.
