Logo of Tourism Enterprise Co. (Shams)
Majed Alotaibi, Managing Director and CEO of Tourism Enterprise Co. (Shams), said the company is currently conducting a comprehensive review of its business portfolio and operating plans as part of preparing an integrated investment strategy. 
He told Al Eqtisadiah newspaper that the newly elected board of directors is working to implement the strategy starting in the fourth quarter of this year. “The strategy aims to develop the company’s business and maximize the utilization of its resources in line with the rapid growth of Saudi Arabia’s tourism sector,” he added.
Moreover, the strategy focuses on utilizing the company’s assets more efficiently, enhancing sustainable growth opportunities, and capitalizing on the promising opportunities available in the Saudi market, the CEO said.
Alotaibi also said that the recent changes to the board of directors and executive management will not affect the company’s operations or the execution of its projects and partnerships. He noted that all operations are managed under clear governance and business continuity frameworks that ensure uninterrupted operations and fulfillment of contractual obligations.
The executive management, in cooperation with the new board of directors, is working to ensure the continued execution of existing projects and partnerships without disruption, thereby supporting the company’s operational stability during the current phase.
According to Argaam’s data, the company’s general assembly recently approved the dismissal of the previous board of directors following a request submitted by some shareholders holding 10.04% of the company’s shares.
A new board was elected and Alotaibi appointed CEO, while Nasser Al-Barrak was named Chairman.
Logo of Tourism Enterprise Co. (Shams)
Majed Alotaibi, Managing Director and CEO of Tourism Enterprise Co. (Shams), said the company is currently conducting a comprehensive review of its business portfolio and operating plans as part of preparing an integrated investment strategy.
He told Al Eqtisadiah newspaper that the newly elected board of directors is working to implement the strategy starting in the fourth quarter of this year. “The strategy aims to develop the company’s business and maximize the utilization of its resources in line with the rapid growth of Saudi Arabia’s tourism sector,” he added.
Moreover, the strategy focuses on utilizing the company’s assets more efficiently, enhancing sustainable growth opportunities, and capitalizing on the promising opportunities available in the Saudi market, the CEO said.
Alotaibi also said that the recent changes to the board of directors and executive management will not affect the company’s operations or the execution of its projects and partnerships. He noted that all operations are managed under clear governance and business continuity frameworks that ensure uninterrupted operations and fulfillment of contractual obligations.
The executive management, in cooperation with the new board of directors, is working to ensure the continued execution of existing projects and partnerships without disruption, thereby supporting the company’s operational stability during the current phase.
According to Argaam’s data, the company’s general assembly recently approved the dismissal of the previous board of directors following a request submitted by some shareholders holding 10.04% of the company’s shares.
A new board was elected and Alotaibi appointed CEO, while Nasser Al-Barrak was named Chairman.
