March 04, 2015 12:18 AM ET

Industrial Conglomerates

Company Overview of A. H. Algosaibi & Bros. Co.

Company Overview

Ahmad Hamad Algosaibi & Bros. engages in financial, manufacturing, contracting and real estate, trading and commercial agency, shipping, travel, media and exhibition, and agriculture businesses. Its activities include water freight forwarding; distribution of ship equipment; manufacture of cans, paper, steel pipes, tires, and electrical machinery; soft drinks bottling and chips production; tugboats; advertising, public relations, fairs, and exhibition organization; insurance, banking, and investment services; hotel operations; travel agencies; and civil contracting and engineering consulting services. Ahmad Hamad Algosaibi & Bros. was formerly known as Hamad Algosaibi & Sons. The company was...

Ahmad Hamad Algosaibi Building

Hamad Algosaibi Street

Alkhobar,  31952

Saudi Arabia

Founded in 1991


966 13 882 2666


966 13 882 2470

Key Executives for A. H. Algosaibi & Bros. Co.

Acting Chief Executive Officer and Chief Restructuring Officer
President and Director
Chairman and Managing Director
Chief Financial Officer
Deputy Chief Financial Officer
Compensation as of Fiscal Year 2014.

A. H. Algosaibi & Bros. Co. Key Developments

AHAB Agrees to Settlement with Glenn Stewart in California

Ahmad Hamad Algosaibi & Brothers Company announced that it has settled litigation with Glenn Stewart, a resident of Newport Beach, California, whom AHAB had sued in 2011 in parallel with its claims against Maan Al Sanea and his group of companies known as the Saad Group. Pursuant to the settlement (in which neither party will pay any money), Stewart will meet with AHAB to provide information concerning the events and transactions that have left the Saudi partnership with approximately $9 billion in ostensible debt. According to Eric Lewis, AHAB's global legal coordinator, the settlement made sense for AHAB, led by new executive management, as it attempts to reorganize its debts and re-focus its litigation efforts.

Ahmad Hamad Algosaibi & Brothers Announces Executive Appointments

Ahmad Hamad Algosaibi & Brothers hired people from accounting firm Deloitte to senior management positions. The company appointed Ben Jones as chief financial officer. The company also appointed Raef El Hassan as deputy CFO.

Ahmad Hamad Algosaibi & Brothers Company Names Simon Charlton as Chief Restructuring Officer and Acting Chief Executive Officer

Ahmad Hamad Algosaibi & Brothers Company announced that effective June 1, Simon Charlton joined the company as Chief Restructuring Officer and Acting Chief Executive Officer. Charlton, formerly of Deloitte Corporate Finance in Dubai, will be accompanied by two colleagues. The new executive team will oversee all aspects of the company's operations and management.

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