Acwa Names New Chief Executive Officer
Acwa's board of directors has named Dr. Samir J. Serhan its new Chief Executive Officer, effective immediately. Dr. Serhan was previously President of the company's Saudi Arabia and Middle East division and formerly served as COO of US-based Air Products.
Dr. Samir J. Serhan's appointment is part of a planned leadership succession, with his predecessor Marco Arcelli remaining as an advisor to the Chairman of the Board to ensure a smooth transition. The company has emphasized that its long-term strategic direction will not change. This move comes shortly after a board member, H.E. Mr. Fahad bin Abduljalil Al-Saif, resigned following his appointment as Saudi Arabia's Minister of Investment. The new CEO takes the helm of a company that has solidified its position as the world's largest private water desalination company and a key player in the global energy transition, particularly in green hydrogen. Dr. Serhan's extensive experience in leading large-scale industrial and infrastructure organizations globally is expected to be a significant asset. His career includes over 30 years in senior roles, including a 14-year tenure with The Linde Group in both the US and Germany. Before joining Acwa as President of the Saudi Arabia and Middle East division, Dr. Serhan was the Chief Operating Officer at the U.S.-based Air Products. At Air Products, he held global responsibility for the company's operational business and project execution, with profit and loss accountability for the Americas, Asia, Europe, Africa, the Middle East, and India. The leadership change follows a period of significant growth and strategic realignment for Acwa. Marco Arcelli, who became CEO in March 2023, succeeded Paddy Padmanathan, who had led the company for over 18 years. Under Arcelli's leadership, the company continued its expansion in renewable energy and green hydrogen, in line with Saudi Arabia's Vision 2030.
