Arabian Centres Co. announced that the board of directors has approved by circulation a resolution dated 15 May 2020 that accepts the resignation of Chief Executive Officer Mr. Olivier Nougarou from his position effective 14 May 2020. On the recommendation of the Remuneration and Nominations Committee, the Board has approved the appointment of Mr. Faisal Abdullah Al Jedaie as Chief Executive Officer of the company effective 17 May 2020. Mr. Nougarou will remain with the company as the BoD senior advisor for strategy and growth. Mr. Faisal Abdullah Al Jedaie has had a distinguished career with wide-ranging experience in the field of business management, spanning 30 years in the field of retail and fashion. He was the founder of NESK LLC, which held the franchises of many international brands. Mr. Al Jedaie is currently chairman of Thobe Al Aseel Company and is a member of the Board of Directors of Al Mubarak Real Estate Income Fund.