Nov 27, 2010
Riyadh, Saudi Arabia – Ma'aden's Chairman Eng. Abdullah Saif Al-Saif expressed his thanks and appreciation to Dr. Abdullah Dabbagh, Ma'aden's President and CEO after the Board of Directors accepted his request to retire after thirteen years in the role with effect from 31st December 2010.
In a letter to the company's employees Engr. Al Saif praised Dr Dabbagh's role as Ma'aden's first CEO and President conveying the Board's "sincerest thanks to Dr Dabbagh for his visionary leadership of Ma'aden since its inception thirteen years ago" and praising "the pioneering role that he has played in the development of the Saudi mining industry during his time as President & CEO." He also highlighted that Dr. Dabbagh has led a professional executive team dedicated to a culture based on a love of work, transparency and integrity based on a strong ethos of teamwork.
In the statement Eng. Al-Saif also confirmed that Ma'aden's current Vice President Phosphate SBU, New Business Development & Marketing, Khalid Saleh Al-Mudaifer will assume the role of President & CEO as of January 1st 2011. Dr. Dabbagh will continue as a member of Ma'aden's Board of Directors and to participate in his work on a number of committees.
MPC is owned 70 % by Ma'aden and 30% by SABIC.
"Dr Dabbagh's leadership has transformed Ma'aden and with it the Saudi mining industry. Since 1997 the company has significantly expanded its gold mining operations and gold resources, built a unique, world scale phosphate operation and laid the foundations of the Saudi aluminium industry as well as developing industrial minerals projects." said Engr. Mudaifer following the announcement. "He has been a charismatic and visionary leader, working closely with our partners in industry and government to create the framework upon which the Saudi mining industry can prosper for generations to come."
Engr. Mudaifer has overseen the development of Ma'aden's Phosphate interests including the development of its $5.5 billion joint venture with SABIC which is currently commissioning. He is a former member of Qassim Region Council and is a Board and Executive Committee Member of the Saudi Arabian Railroad Company, a Board Director of Qassim Cement Company and on the Board of Directors of Gulf International Bank.