Sameer Jain has been appointed chief executive officer of AFG International, operating as Cenomi Retail, Saudi Arabia's leading retail brand partner, effective 1 July 2026. The appointment marks a significant leadership transition for the company as it advances a transformation agenda following Al-Futtaim's acquisition of a 49.95% stake in 2025, positioning Jain to guide the business through a critical phase of strategic execution and market expansion.
The appointment comes as outgoing CEO Salim Fakhouri submitted his resignation effective 31 October 2026, coinciding with contract expiry. The board announced Jain's appointment on 22 June 2026, underscoring the company's commitment to strengthening performance and accelerating growth across its portfolio. Al-Futtaim's entry as a strategic shareholder has triggered a comprehensive transformation strategy focused on digital innovation, operational excellence, and customer-centric value creation. The transition reflects the company's ambition to sharpen strategic execution during this pivotal chapter in its evolution.
Jain brings more than two decades of leadership experience across retail, strategy, and business transformation sectors. Most recently, he served as chief executive officer of New Business and Home Centre Middle East at Landmark Group, where he led strategic repositioning and business transformation, driving renewed growth, operational effectiveness, and long-term value creation. Earlier in his career, Jain worked at leading global consulting firms including McKinsey & Company, A.T. Kearney, and Ernst & Young, advising organisations on corporate strategy, business transformation, and growth acceleration. His track record demonstrates particular strength in navigating complex market challenges, spearheading new business ventures, and restoring profitability across diverse retail environments.
Cenomi Retail operates as a core component of the broader Cenomi Group, Saudi Arabia's largest vertically integrated retail and lifestyle ecosystem. The company operates more than 80 of the world's most-loved brands across 1,600 stores in over 100 shopping centers spanning 11 countries. The group also includes Cenomi Centers, which owns and operates 21 contemporary lifestyle shopping malls across Saudi Arabia, hosting over 109 million visitors annually. Together, the entities form an expansive omnichannel platform connecting consumers with leading brands through both physical retail locations and e-commerce channels, with particular strength across fashion, lifestyle, entertainment, and food and beverage categories.
The appointment of a transformation-focused executive from the consulting and retail sectors suggests the board sees significant scope for operational enhancement and strategic repositioning at Cenomi Retail. Jain's background in business transformation and consulting mirrors patterns observed across the broader Saudi retail sector, where companies increasingly seek executives with experience navigating complex restructurings and digital transitions. His success at Landmark Group in scaling omnichannel operations and managing portfolio expansion across multiple markets indicates he may prioritize similar priorities at Cenomi Retail, particularly as the company integrates the influence of its new strategic partner and reshapes its competitive positioning in the Saudi market.
