Majed Alotaibi (CEO); Nasser Al-Barrak (Chairman)

Majed bin Nawwar Al Otaibi was appointed CEO of Tourism Enterprise Company (Shams) effective July 17, 2026, and Nasser Al-Barrak was named Chairman as part of comprehensive board restructuring at the Saudi tourism operator.

Al Otaibi brings over 25 years of experience across investment and asset management, having held senior leadership roles in banking and investment firms where he led investment strategies and governance initiatives. He holds a master's degree in economics from Ohio University. His previous roles include Head of Asset Management at Anb Invest and experience at Al Rajhi Capital.

Upon taking office, Al Otaibi stated the company is conducting a comprehensive review of its business portfolio and operating plans as part of preparing an integrated investment strategy. The newly elected board is working to implement the strategy starting in the fourth quarter of 2026, aiming to develop the company's business and maximize utilization of its resources in line with Saudi Arabia's rapid tourism sector growth.

Career history

• Head of Asset Management at Anb Invest
• Senior experience at Al Rajhi Capital
• Senior leadership roles in banking and investment firms

What Majed Alotaibi could bring to Shams: With over 25 years in investment and asset management, Al Otaibi is positioned to modernize Shams' portfolio strategy and financial governance. His banking sector expertise and focus on investment strategies suggest he may drive portfolio optimization, pursue strategic acquisitions, and enhance operational efficiency at the tourism-focused resort operator—areas critical as Shams capitalizes on opportunities in the rapidly growing Saudi tourism market.