KEC announces non-renewal of CEO’s contract, names Hazem El Banna as acting CEO

Knowledge Economic City’s (KEC) board of directors decided to accept the request submitted by CEO Mohammad Al-Mubarak, on Dec. 1, not to renew his contract with the company.

In a statement to Tadawul, the company said the decision, effective Jan. 1, 2026, is at Al-Mubarak’s request due to personal reasons.

The board also decided to appoint Chief Operating Officer Hazem El Banna as the acting CEO effective Jan. 1, 2026.

El Banna has more than 30 years of experience in real estate development, engineering consultancy, contracting, and management. He holds bachelor’s and master’s degrees in civil engineering, as well as a diploma in business administration.

According to data available with Argaam, KEC appointed Al-Mubarak as CEO in December 2021 following his assignment as acting CEO in October 2021.