Riyad Bank, represented by the Board of Directors, announced its approval to appoint Abdulmajeed Abdullah Al Mubarak as the Bank's Chief Executive Officer, effective October 31, 2016. He succeeds Talal Ibrahim Al-Qudaibi, who has expressed his desire to retire at the end of October.

This came during the Board meeting on 2016.09.19.For his part, Rashid Al-Rashed, Chairman of the Board of Directors, praised the honorable career of Talal Al-Qudaibi in his work at Riyad Bank for more than three decades, in which he held high positions, most recently as CEO of the bank since the beginning of 2002, and praised Al-Qudaibi's achievements and the qualitative leap and development of the bank's business and outstanding achievements, appreciating all his contributions that serve the interest of the bank and its shareholders.

<Al-Rashed also praised Al-Qudaibi's high administrative and banking capabilities, his honesty, sincerity and dedication to his work, his full commitment to the highest standards of banking professionalism, and his keenness on high work ethics and honesty in dealing in word and deed. Al-Rashed emphasized that Al-Qudaibi has been and will continue to be a role model for Riyad Bank employees and the banking sector.

For his part, Mr. Talal Al-Qudaibi extended his sincere thanks and appreciation to the Chairman and members of the Board of Directors for the trust they have always placed in him, praising the colleagues with whom he worked throughout this period, and their proven sincerity and dedication in serving the bank and their sincere efforts in achieving its objectives, and appreciating the spirit of working as a cohesive team to achieve the ambitions of the Board of Directors and shareholders, and assuring his continued cooperation for all that is in the interest of the bank and shareholders.

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