Gulf Union Al Ahlia CEO Al Shayea to step down

GULF UNION ALAHLIA
8120 0.07% 13.71 0.01

Riyadh – Mubasher: Gulf Union Al Ahlia Cooperative Insurance Company’s board of directors approved on 16 September the request of CEO Mesheal Ibrahim Al Shayea to terminate his contractual relationship with the company.

According to the regulatory filing, Al Shayea will continue in his current role until his final working day on 31 December 2026, with the formal conclusion of his contract taking effect on 1 January 2027.

The board expressed its appreciation for Al Shayea’s leadership and contributions during his tenure, which spanned more than 10 years at the firm.

The company stated that it will announce further developments regarding the appointment or commissioning of a new chief executive once all regulatory requirements are met.

Al Shayea’s departure marks the end of a decade-long leadership period as the insurer prepares to transition to new executive management in the coming year.

On 9 September, the listed company received final approval from the Insurance Authority to begin the marketing and sale of its Tourist Visa insurance product.

Source: Mubasher Source: {{details.article.source}}