Red Sea International, a company listed on the Saudi market «Tadawul,» that its Board of Directors decided on August 28, 2026, to accept the resignation of Hani bin Othman Baathman from the position of Group CEO and to appoint Ghassan bin Nabil Nassif as CEO, effective the same date.
In a statement released on "Tadawul" today, Sunday, the company said that Baathman will continue in his role as Managing Director, while continuing to oversee a number of strategic priorities, projects, and executive initiatives, including the capital increase plan. It explained that Baathman’s resignation from the position of CEO came after the completion of a number of tasks related to the company’s restructuring, which included scaling back activities in unprofitable foreign markets and refocusing on core activities in the oil and gas sector within the Kingdom, as well as overseeing the capital increase process.
She added that Baathman will continue in his role as CEO during the three-month notice period, during which responsibilities and tasks will be transferred to the new CEO to ensure business continuity and a smooth transition.
Ghassan bin Nabil Nassif has over 25 years of experience in corporate banking, investment, financial advisory, restructuring, organizational transformation, and business development.
Nassif has held a number of leadership positions, including Managing Director of "Teneo" in the Kingdom, Director of Business Development at «Sweekorp,» and Head of International Corporate Banking at Emirates Islamic Bank, in addition to holding positions at the Saudi Dutch Bank, the National Commercial Bank, Al-Bilad Bank, SABB, and the Saudi French Bank. Naseef also founded «GNN Financial Advisory,» a firm specializing in financial consulting, restructuring, and mergers and acquisitions.
