Red Sea Housing Services Company (RSHS), has announced the appointment of Prabhakar Kesavan as its new chief financial officer (CFO).

In his new role, Kesavan will oversee the finance, accounting, tax and treasury departments of RSH’s Industrial Housing, Building Materials, and Affordable Housing platforms.

Based on his 25 years of professional experience in finance, Kesavan was selected from a comprehensive list of distinguished global peers by RSHS’s senior management team and the Nomination and Compensation Committee of the company’s board of directors.

In his current capacity as Group CFO, he will collaborate in delivering RSH’s 2020 Growth Strategy.

Joseph Vecchiolla, CEO of Red Sea Housing Services Company, said: “Kesavan is a highly experienced professional with strong industry experience and leadership and an astute finance and accounting background.”

The CEO said: “Kesavan is an ideal candidate for the position of CFO of RSHS to drive the company’s 2020 Growth Strategy. We welcome him to our team and look forward to his contribution to the success and growth of the company.”

Prior to joining RSHS, Kesavan held senior positions of increasing responsibility over a period of 16 years with Aggreko Plc, an FTSE 100 solutions provider engaged in the rental of temporary power and temperature control with a market capital of SR22 billion and annual revenue of over SR8 billion. 

In addition, Prabhakar has spent 9 years holding a financial leadership position with the TATA Group, a SR380 billion conglomerate of over 90 companies.