BUSINESSSEMAFOR
UAE conglomerate overhauls Saudi retailer management
UAE conglomerate Al-Futtaim has overhauled the management of Saudi retailer AFG International, appointing Sameer Jain as CEO. The Saudi market regulator referred 17 individuals, including former and current AFG executives, to the public prosecutor for alleged crimes involving misleading financial disclosures. Al-Futtaim stated the alleged misconduct predates its investment and confirmed support for the ongoing investigation.
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