Savola CEO Steps Down

JEDDAH, 23 February 2007 — Abdulraouf Mannaa, CEO of the Savola Group, has resigned from the group on personal grounds effective from April 1. The new CEO of the group will be Sami Mohsen Baroum. Mannaa, who had been in the company since 1991 occupying several key positions the last to them being the group’s chief executive officer since March 2005, resigns because he intends to move to another joint stock company. Baroum, who will succeed him as the new CEO, has been working in the group over the past 12 years. A meeting of the board of directors of the Savola Group chaired by Adel Fakeeh, chairman of the group, decided to accept the resignation and make the new appointment, on Wednesday, according to a group’s statement yesterday.