Saudi Arabian Military Industries Company (SAMI) has appointed Eng. Walid bin Abdulmajeed Abukhaled as its CEO, according to a statement confirming the appointment on Monday.
The decision to appoint Abukhaled as CEO was made on Monday by SAMI’s Board of Directors chaired by Ahmed bin Aqeel Al-Khatib, according to the Saudi Press Agency.
“The Board of Directors of SAMI praised the long experience of Eng. Walid Abukhaled in several leadership positions, including CEO for the Middle East at Northrop Grumman, Deputy Minister of Industrial Affairs at the Ministry of Commerce and Industry, President and CEO of General Electric in the Kingdom of Saudi Arabia and Bahrain, and Chairman of the Operations Board and Director of Strategic Investments Group at BAE Systems in the United Kingdom and the Kingdom of Saudi Arabia,” according to a statement from the company.
Earlier in April, SAMI announced Abukhaled as acting chief executive officer, taking over from Andreas Schwer at the time.
The company, established in May 2017, seeks to localize 50 percent of military spending by 2030 as part of Crown Prince Mohammed bin Salman’s plan to diversify the kingdom’s economy away from oil revenue.
It is owned by the kingdom's Public Investment Fund.