Abdullah Al Othaim Markets, Saudi Arabia's second-largest retail chain, appointed Abdulmalik Abdullah Al Othaim as Executive Board Member and Managing Director on August 12, 2026, filling a vacancy created by the sudden departure of previous executive Muaffaq Abdullah Mobarah. The company announced that Mobarah had resigned from his position as Executive Board Member, citing personal reasons. The appointment comes at a pivotal moment for the listed retailer, which operates more than 400 stores across Saudi Arabia and Egypt and generated revenue of nearly SAR 11.24 billion in 2025.
The board's decision to promote Al Othaim from within the broader Al Othaim holding company structure underscores a shift toward management succession from the family-controlled conglomerate's younger generation. The appointment is effective immediately but remains subject to ratification at the company's next General Assembly Meeting. No external search firm involvement was disclosed in the announcement. The move signals confidence in Al Othaim's ability to navigate the retail sector at a time when the Saudi market faces competitive pressures and evolving consumer expectations.
Al Othaim holds a Bachelor of Science degree from Suffolk University in the United States, which he completed in 2020. Prior to his appointment, he served as CEO of Abdullah Al Othaim Investment Company, a subsidiary within the broader Al Othaim ecosystem focused on real estate and commercial complex development. His career trajectory within the conglomerate began in 2017 as a customer care specialist and salesperson at Abdullah Al Othaim Markets Company itself, before his progression to investment analyst at Al Othaim Holding Company, where he conducted research on investment opportunities and evaluated performance. He also served as Vice President of Investments at Al Othaim Holding Company, overseeing the group's global and local investment activities, and held roles at Alpha Capital as a financial analyst and at investment vehicles including Riva Investment Company.
Abdullah Al Othaim Markets, headquartered in Riyadh, traces its roots to Saleh Al Othaim Trading Establishment, founded in 1956 by the late Sheikh Saleh Al Othaim as a foodstuffs trader. The company was formally established in 1980 and listed on the Saudi Stock Exchange in 2008, with an initial public offering that was 21 times oversubscribed. Today, the company operates through hypermarkets, supermarkets, wholesale centers, and convenience stores across more than 110 cities and governorates in Saudi Arabia, plus operations in Egypt. Chairman Abdullah Saleh Al Othaim retains a 36 percent stake in the publicly traded company. The retailer competes in a highly consolidated market where governance standards and professional management are increasingly important to investors.
The appointment appears designed to strengthen governance separation and inject investment expertise into day-to-day retail operations. Al Othaim's background spanning finance, investments, and retail suggests the board may be positioning the company to balance operational execution with strategic diversification through its real estate and commercial complex portfolio. His appointment implies confidence in next-generation family management trained internationally, consistent with Vision 2030 priorities that emphasize professional governance and talent development. The departure of Mobarah, who held the CEO position since 2023 and had prior experience in beverage and industrial sectors, represents continuity risk that the appointment of an internal, family-connected executive is designed to mitigate.
