Riyadh – Mubasher: The board members of Middle East Paper Company (MEPCO) accepted the resignation of Sami Ali Al Safran as the company’s CEO.
Jan Renders, a current board member, took over as an acting CEO of MEPCO on 13 June, according to a bourse filing.
Renders holds a master's degree in Mechanical Engineering from the University of Technology Eindhoven. He has experience in the packaging industry and as a business consultant with key private equity firms, such as Carlyle, Blackstone, One Equity Partners Europe, and 3i Netherlands.
He served as a board member of Duropack GmbH from 2012 to 2015 and as CEO from 2013 to 2015.
Before that, the official was Chairman of OTOR Société Anonyme, a leading French packaging provider, from 2006 to 2010.
In the first quarter (Q1) of 2024, MEPCO registered 163.57% higher net losses at SAR 18.71 million, compared to SAR 7.10 million in Q1-23.
