Effective May 1, Lubna Olayan will retire as CEO of Olayan Financing Company (OFC), the Group’s Riyadh-based investment arm and holding company for the Middle East. Ms. Olayan will remain a key member of the Group’s Corporate Board of Directors, Shareholders’ Board, and Olayan Family Council. She will also continue to lead the Group’s philanthropic activities as president of the Suliman S. Olayan Foundation. Jonathan Franklin, a senior executive at OFC, will take over as the company’s new CEO, also on May 1.