Modern Mills names Majed Nofal CEO, replacing acting chief

Modern Mills for Food Products Co. appointed Majed Nofal as chief executive officer, effective July 1, the company said in a filing. The board approved the move on June 20, ending the assignment of Ahmed Abdul Karim Hijazi as acting CEO.

Nofal takes over a company that operates in Saudi Arabia's packaged food sector, a market where consumer spending patterns have shifted in recent quarters. The new CEO's background includes leadership roles in food manufacturing and distribution, though the filing did not detail his immediate priorities for the business.

Hijazi had served as acting CEO since the departure of the previous permanent chief. The transition to a permanent appointment removes a layer of uncertainty around the company's management structure, though the strategic direction under Nofal has not been publicly outlined.

Modern Mills shares trade on the Saudi Exchange. The stock has moved in line with the broader Tadawul index over the past year, reflecting sector-wide pressures from input costs and competition rather than company-specific catalysts. Investors will watch for any strategic announcements from Nofal in the coming quarters that could signal a shift in product focus or cost strategy.