Lazurde Jewellers, one of the leading jewellery designers, manufacturers, and distributors in the Middle East, has announced significant changes to its senior leadership. In a resolution issued today, the company's board of directors accepted Mr. Adnan Al-Khalaf's request to step down from his position as Managing Director and CEO for personal reasons.
According to the official statement published on the Saudi Stock Exchange (Tadawul), Mr. Al-Khalaf is scheduled to leave his executive position on February 19, 2026. However, to ensure continuity of expertise within the Board of Directors, Mr. Al-Khalaf will continue to contribute to the company as a non-executive board member, guaranteeing a smooth leadership transition and preserving his strategic vision within the governance structure.
Historical background and market context
Founded in 1980, Lazurde has built a prestigious reputation over the decades as one of the region's leading jewelry manufacturers. The company went public on the Saudi Stock Exchange (Tadawul) in 2016, a move that reflected its institutional maturity and expansion ambitions. Operating in a highly competitive sector that relies heavily on design innovation, manufacturing quality, and the ability to keep pace with evolving consumer tastes, Lazurde has excelled in this area through its extensive retail and wholesale network in Saudi Arabia, Egypt, and the Gulf countries.
The new leadership and its expected impact
To fill the leadership vacancy, the Board of Directors has decided to appoint Mr. Ehab Ibrahim as the company's new Chief Executive Officer, effective February 20, 2026. This appointment is a well-considered move, as Mr. Ibrahim brings extensive experience to the role, currently serving as General Manager of Lazurde's operations in Egypt, one of the company's most important strategic markets. His broad experience in managing operations in a dynamic and complex market like Egypt provides him with a unique perspective and the ability to drive growth in the coming phase.
The new CEO is expected to focus on fostering digital innovation, expanding e-commerce, and exploring new markets, while preserving Lazurde's luxury brand identity. This leadership change is seen as a strategic move to inject new energy capable of adapting to future challenges and opportunities in the luxury goods sector, aligning with Saudi Arabia's broader economic goals and Vision 2030, which encourages the growth of national companies and enhances their regional and international competitiveness.
