Al Bader was the executive vice president of Almarai's bakery line of business since 2015.
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Almarai dairy products Head Office is seen in Riyadh, Saudi Arabia July 12, 2018. Image used for illustrative purpose. REUTERS/Faisal Al Nasser

Saudi Arabia’s Almarai, the Gulf’s largest dairy company, has appointed Abdullah Nasser Al Bader as CEO, effective from March 7.

Al Bader was the executive vice president of Almarai’s bakery line of business since 2015, the company said in a bourse statement.

Almarai, which has the kingdom’s sovereign wealth fund (PIF) and Savola Group, the kingdom’s largest food products company, among its investors, posted a 10 percent rise in the full-year 20202 net profit driven by a 7 percent increase in revenue in food, long-life dairy and poultry segments, and lower funding costs.

China’s dairy imports have slowed amid rolling Covid lockdowns and a weakening economy that has many analysts slashing their 2022 and 2023 economic growth estimates for the country.

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