Saudi Printing appoints Saleh Al Dowais Chairman, Amrou Masry as acting CEO amid restructuring

SAUDI ARABIA – Saudi Printing and Packaging Company has appointed Saleh Al Dowais as Chairman and Amrou Masry as Acting CEO, following the resignation of Vice Chairman Mohammed Kashgari due to personal reasons, as the company continues its restructuring efforts after reporting accumulated losses exceeding 98 percent of capital.

The board also appointed Ali Al-Jameel, an independent member, as Vice Chairman for the current board term, which began on May 7, 2024. The changes were announced in separate Tadawul statements on April 13, 2026, with Kashgari’s resignation effective April 15.

A New CEO with Turnaround Experience

Amrou Masry, who currently serves as CFO, has nearly 19 years of leadership experience in executive financial management, with a strong track record in capital raising, restructuring, and mergers and acquisitions.

Throughout his career, he has held senior roles in Saudi Arabia and the UAE, including CFO of MEPCO Group, CFO of Ibda’a Entertainment Co., and Finance Director at Miral.

He also worked in auditing at Ernst & Young, where he played a key role in investor relations and ESG strategy development.

Masry holds an MBA from London Business School and is a Certified Public Accountant.

The Challenges Ahead

SPPC reported a net loss of SAR 267.34 million (approximately US$71.3 million) for fiscal year 2025, widening from SAR 219.4 million (approximately US$58.5 million) the previous year, with accumulated losses reaching 98.38 percent of the company’s SAR 600 million (approximately US$160 million) capital. Total revenues fell 20.6 percent to SAR 572.96 million (approximately US$152.8 million).

The company recorded provisions and asset impairments totaling SAR 132.4 million (approximately US$35.3 million). Shareholders’ equity plummeted to just SAR 12.3 million (approximately US$3.3 million) by year-end.

The company is implementing a turnaround strategy including manpower optimization, process automation, and asset optimization such as selling unutilized warehouses and land.

In February 2026, the board resolved to permanently cease operations of City Pack Co., a wholly-owned subsidiary in the UAE with AED 10 million (approximately US$2.7 million) in share capital, to reallocate resources toward higher-growth packaging segments.

A Vote on Continuity

With accumulated losses at 98.38 percent of capital, shareholders will vote on the company’s continuity plan to ensure operations can continue while the turnaround takes effect.

The new leadership team faces the immediate challenge of stabilizing the business, restoring profitability, and convincing shareholders that SPPC can survive.

When a Company Teeters

A new chairman. A new acting CEO. A subsidiary shuttered. A vote on continuity looming. Saudi Printing is not just restructuring, it is fighting for survival. Masry’s turnaround experience will be tested as never before.

Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE