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Nabeel Al-Amudi Named CEO of OFC as Jonathan Franklin Retires

Jonathan Franklin, who has served The Olayan Group in high-level positions for 14 years, retired as CEO of Olayan Financing Company (OFC), effective May 1, 2021. At the same time, Nabeel Al-Amudi, president of OFC since October 2020, has assumed the chief executive role. 

Based in Riyadh, OFC is The Olayan Group’s holding company for diversified investments and operations in MENA. Its chief commercial entity is Olayan Saudi Holding Company (OSHCO). Messrs. Franklin and Al-Amudi interacted closely at OFC and both will continue to serve on the board of OSHCO. 

“Nabeel is well acquainted with our strategy and the issues and challenges facing OFC, as well as OSHCO, so the transition will be smooth and seamless,” commented Lubna Olayan, chair of OFC’s Executive Committee. “I have no doubt that Jonathan will continue to be an important resource on which Nabeel may continue to draw.”

Mr. Al-Amudi brings to his CEO role expertise and experience gained from a range of legal and business roles in Saudi Arabia and abroad. He currently serves on the boards of Saudi Aramco and Dr. Sulaiman Al-Habib Medical Services Group. He also chairs the Board of Trustees of Imam Abdulrahman bin Faisal University in Dammam.

Mr. Al-Amudi holds a bachelor’s degree in chemical engineering from Stanford University and a JD from Harvard Law School. He began his legal career as in-house counsel at Saudi Aramco. He later became associate general counsel at Aramco Services Company in Houston and served as president of that company from 2013 to 2015. 

He went on to become president and vice chairman of the Saudi Ports Authority and then the Kingdom’s minister of transport. He has served on the boards of NEOM Development Company, The Red Sea Development Company, and United Arab Shipping Company.

Commenting on the breadth of his experience in operations, strategy, transformation, and leadership, Ms. Olayan said Mr. Al-Amudi is “ideally suited to lead OFC at this point in its evolution.”