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Almarai names new CEO

Saudi Arabian food and beverage company Almarai Co. said Dec. 8 that it appointed Majed Nofal as its CEO, effective Jan. 1, 2020.

Nofal has been the company's deputy CEO since July.

He will replace Georges Schorderet, who was CEO between 2015 and April 2019 and returned to the position in July when Alois Hofbauer resigned after three months in the job. Schorderet will continue as an adviser to the company's board.