Asharqiyah Development Company announced that its board of directors decision on December 29, 2016 to cancel the assignment of its chief operations officer Abdul Aziz Mohammed Al Yaqoot from his post as the acting chief executive officer and the appointment of Mr. Samer Nahed Alsourani as a chief executive officer effective 1 January 2017. Mr. Alsourani possesses various banking experiences through his work with Saudi Hollandi Bank (currently Alawwal Bank) and The Saudi British Bank (SABB). He even has the comptrollers experience gained during his work at the Contract Review and Cost Compliance Department of Saudi Aramco in addition to his practice as a Management Consultant.