Acwa Appoints New CEO
What happened
The Acwa Board of Directors has named Dr. Samir J. Serhan as its new Chief Executive Officer, effective immediately. Dr. Serhan was previously President of Saudi Arabia and the Middle East for the company and formerly served as COO of US-based Air Products.
Why it matters
The appointment comes shortly after the company rebranded from ACWA Power to Acwa in January 2026, a move reflecting its evolution from a regional developer to a global infrastructure platform managing assets across 15 countries. Acwa is a cornerstone of Saudi Arabia's Vision 2030, with an ambitious goal to triple its assets under management to over $250 billion by 2030 and significantly expand its renewable energy portfolio. Dr. Serhan takes the helm from Marco Arcelli, who assumed the CEO role in March 2023. Arcelli had succeeded the company's long-serving CEO of 18 years, Paddy Padmanathan, who remains a board member. Dr. Serhan's background includes extensive experience in the industrial gases and engineering sectors, having served as Managing Director of Linde Engineering and President of Global HyCO at Praxair before his tenure at Air Products. His appointment aligns with Acwa's major strategic push into green hydrogen. The company is a key backer of significant projects, including the NEOM Green Hydrogen Company, one of the world's largest green hydrogen facilities. In February 2026, Acwa solidified its focus on innovation by signing 27 partnership agreements with global institutions, including MIT and Stanford University, to advance technologies in green hydrogen, water desalination, and energy storage.
Key numbers
- The appointment comes shortly after the company rebranded from ACWA Power to Acwa in January 2026, a move reflecting its evolution from a regional developer to a global infrastructure platform managing assets across 15 countries.
- Acwa is a cornerstone of Saudi Arabia's Vision 2030, with an ambitious goal to triple its assets under management to over $250 billion by 2030 and significantly expand its renewable energy portfolio.
- Serhan takes the helm from Marco Arcelli, who assumed the CEO role in March 2023.
- Arcelli had succeeded the company's long-serving CEO of 18 years, Paddy Padmanathan, who remains a board member.
What happens next
- Acwa is a cornerstone of Saudi Arabia's Vision 2030, with an ambitious goal to triple its assets under management to over $250 billion by 2030 and significantly expand its renewable energy portfolio.
Quick answers
What happened in Acwa Appoints New CEO?
The Acwa Board of Directors has named Dr. Samir J. Serhan as its new Chief Executive Officer, effective immediately. Dr. Serhan was previously President of Saudi Arabia and the Middle East for the company and formerly served as COO of US-based Air Products.
Why does Acwa Appoints New CEO matter?
The appointment comes shortly after the company rebranded from ACWA Power to Acwa in January 2026, a move reflecting its evolution from a regional developer to a global infrastructure platform managing assets across 15 countries. Acwa is a cornerstone of Saudi Arabia's Vision 2030, with an ambitious goal to triple its assets under management to over $250 billion by 2030 and significantly expand its renewable energy portfolio. Dr. Serhan takes the helm from Marco Arcelli, who assumed the CEO role in March 2023. Arcelli had succeeded the company's long-serving CEO of 18 years, Paddy Padmanathan, who remains a board member. Dr. Serhan's background includes extensive experience in the industrial gases and engineering sectors, having served as Managing Director of Linde Engineering and President of Global HyCO at Praxair before his tenure at Air Products. His appointment aligns with Acwa's major strategic push into green hydrogen. The company is a key backer of significant projects, including the NEOM Green Hydrogen Company, one of the world's largest green hydrogen facilities. In February 2026, Acwa solidified its focus on innovation by signing 27 partnership agreements with global institutions, including MIT and Stanford University, to advance technologies in green hydrogen, water desalination, and energy storage.
