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Red Sea International Co. announced that its board of directors approved the resignation of Chief Executive Officer Hani Baothman, effective August 28, following the completion of his notice period. Baothman will not leave the company entirely; he will continue in his role as Managing Director to oversee strategic initiatives, major projects, and the company's planned capital increase execution.
To fill the executive role, the board appointed Ghassan Nassief as the new CEO starting August 28. Nassief brings over 25 years of extensive professional experience in corporate banking, investment, debt restructuring, and business development. He previously founded GNN Financial Advisory and holds a degree in electrical engineering alongside specialized financial certifications.
This leadership transition comes at a critical time for Red Sea International as it executes corporate restructuring and capital expansion plans. Investors will be closely watching how the new executive management navigates business transformation and operational growth within the Saudi construction and modular building sectors.
