Pagano will continue as CEO of The Red Sea Development Company in addition to his new role
The AMAALA board of directors have confirmed that Nicholas Naples has left his post as CEO of AMAALA as part of the evolution of the destination, as the ultra-luxury project located on Saudi Arabia’s north-western coast moves into the next phase of its construction.
In a statement, the board of directors thanks Naples for his efforts in driving the early phases of the project, establishing a 420-strong team of professionals and experts to bring the destination’s blueprint to life. John Pagano, the current CEO of The Red Sea Development Company, will now step into the role of CEO of AMAALA, while continuing as CEO of TRSDC as well.
The industry veteran brings 38 years’ experience in delivering large-scale, multi-billion-dollar investments and will enable the complementary visions of both projects to be realised, the statement continued.
“We are very grateful to Nicholas for his strong leadership in bringing AMAALA to life and driving its development over the past three years. His departure is part of the evolution of AMAALA and he will continue to be part of the destination’s development in the capacity of Senior Advisor to AMAALA. We wish Nicholas well as he heads to the US to spend more time with his family,” stated John Pagano, who takes on the mantle of CEO starting January 2021.
Since its launch in 2018, AMAALA has pressed forward with its ambitious agenda of creating a haven of luxury and well-being, underpinned by sustainability and philanthropy. In three years, it has laid the groundwork for its three core communities, revealed the design of its dedicated airport, and kicked off the first phase of construction. It has also built an Advisory Board that is composed of prominent experts from the fields of hospitality, wellness and sports, travel and tourism, arts and culture, construction, sustainability as well as luxury lifestyle and wellbeing.
“It has been an honour and privilege to have been part of this ground-breaking project and I look forward to its evolution over the coming years. Although I will no longer be involved in the day-to-day operations, I will remain one of AMAALA’s biggest champions and look forward to supporting in an advisory capacity as the destination goes from strength to strength,” stated Naples.
AMAALA and The Red Sea Projects are complementary in nature and are firmly committed to delivering on Saudi Arabia’s luxury tourism ambition, as well as protecting and actively enhancing the country’s natural environment. Both projects are fully funded, with the Public Investment Fund (PIF) continuing to ensure high standards of governance whilst also creating synergies and increased efficiencies across all projects.