Saudi foodservice company Herfy CEO resigns

The chief executive officer and managing director of Saudi Arabian foodservice company Herfy has resigned. 

Herfy said in a filing on the Saudi Exchange on Monday (April 26) that it accepted the resignation of Ahmad Hamad Alsaid due to "the lack of harmony in vision".

Alsaid started as CEO and MD at the company in 2008. His resignation was effective Apr 25. He will remain a member of the board of directors and managing director until Apr 30.

Herfy operates its fast food restaurants as well as bakeries. It also has a meat processing business line. 

The company posted a 1.46% year-on-year growth in net profit for its first three months through March 31 this year. It is 49% owned by Saudi food group Savola. 

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