New CEO Named at Acwa
Acwa's board of directors has named Dr. Samir J. Serhan as its new Chief Executive Officer, effective immediately. Dr. Serhan, formerly the company's President for Saudi Arabia and the Middle East, takes over from Marco Arcelli, who remains as an advisor.
Dr. Samir J. Serhan's appointment as CEO comes after joining Acwa Power just a year ago as President for Saudi Arabia and the Middle East. His background includes over 30 years of experience in leading global industrial and infrastructure organizations. Before his time at Acwa Power, Dr. Serhan was the Chief Operating Officer at the U.S.-based corporation Air Products, where he held global responsibility for the company's operational business and project execution. His career also includes 14 years in management roles with the Linde Group in both the United States and Germany. The leadership change is described by the company as a "natural progression" and the result of a structured succession process overseen by the board's nomination and remuneration committee. The company has stated that its long-term direction will remain the same. Marco Arcelli, the outgoing CEO, had been in the role since March 2023. During his tenure, Acwa Power pursued an ambitious growth strategy, aiming to triple its assets to $250 billion within six years. Arcelli will continue to serve as an advisor to ensure a smooth transition and maintain stability.
