Tabuk Cement Company, a leading building materials company in Saudi Arabia, announced a significant change in its senior leadership. Its board of directors approved the request of Eng. Ali bin Mohammed Al-Qahtani to step down as CEO for personal reasons. This announcement marks a strategic turning point for the company, which plays a pivotal role in supporting major development projects in the Kingdom's northwestern region.
Historical background and market context
Tabuk Cement Company was established in 1994 and has since solidified its position as a leading supplier of high-quality cement in the Kingdom. The company's plant is strategically located in the Tabuk region, giving it a unique competitive advantage due to its proximity to mega-projects that form the cornerstone of Saudi Vision 2030, most notably NEOM, the Red Sea Project, and AMAALA. This leadership change comes at a time when the Saudi cement sector is experiencing increased demand driven by massive government spending on infrastructure, real estate, and tourism projects, presenting manufacturers with a historic opportunity for growth and expansion.
Details of the leadership transition process
According to the official statement issued by the company and published on the Saudi Stock Exchange (Tadawul), the transition of responsibilities will be seamless to ensure business continuity. Engineer Ali Al-Qahtani's last day of work has been set for February 1, 2026, with the decision not to continue taking effect on February 2, 2026. The Board of Directors has appointed Engineer Abdulqader Hamed Shweikan as the new CEO, who will officially begin his duties on the same date. This extended transition period reflects meticulous planning and the Board's commitment to ensuring a smooth handover of responsibilities and maintaining the company's operational and strategic stability.
Importance and expected impact
This appointment is of paramount importance to Tabuk Cement Company and its shareholders. With his extensive experience in the industrial sector, Engineer Shweikan is expected to lead the company through a pivotal period in the history of the Saudi economy. His primary responsibilities will focus on enhancing the company's production capacity, developing its operations to meet environmental sustainability standards, and, most importantly, securing strategic cement supply contracts for major projects in the region. The new leadership's success in achieving these objectives will not only bolster the company's financial position and performance in the stock market but will also directly contribute to realizing the goals of Vision 2030 by supporting the necessary infrastructure for these ambitious projects.
