Cenomi Retail Appoints Sameer Jain as New CEO

AFG International Co. (Cenomi Retail), listed on the Saudi Stock Exchange under ticker 4240, announced the appointment of Sameer Jain as its new Chief Executive Officer, effective July 1, 2026. The appointment follows the Board's acceptance of the resignation of former CEO Salim Fakhouri, submitted for personal reasons, effective October 31, 2026, coinciding with the end of his contract.

Background of Sameer Jain

Sameer Jain brings over two decades of leadership experience in retail and consumer businesses. He most recently served as CEO of New Business and Home Centre Middle East at Landmark Group.

Reasons for the Change

The company stated that Fakhouri's resignation was at his personal request, with no further details provided. The Board approved the resignation while the new CEO's term begins in July.

Impact on the Company

The leadership transition comes as the company advances its transformation agenda following AlFuttaim's acquisition of a 49.95% stake in 2025. Jain's extensive experience is expected to support the company's growth and expansion strategy.

Market Reaction

No immediate market reaction was observed following the announcement.