Ex-Arabtec CEO Grigoris Christofides joins SBG to lead ‘repositioning’
Christofides is expected to lead SBG’s repositioning strategy and target a ‘sustainable balance sheet’
Saudi Binladin Group (SBG) has named former Arabtec CEO Grigoris Christofides as its new chief transformation officer (CTO).
Christofides is a well known figure in the GCC construction industry. In addition to his spell at the head of the Burj Khalifa builders, he was formerly the CEO of J&P and has worked at Al Habtoor, as well as WS Atkins & Partners as a construction manager for the Burj Al Arab hotel.
SBG, which was absorbed into the Binladin International Holding Group (BIHG) when the partly government owned firm was formed, said in a statement that Christofides joins at a crucial time in its history; “amidst a Group-wide transformation programme designed to see BIHG absorb, rebuild, and reinvent SBG under the mandate of its board of directors.”
Christofides, who officially took up his position at the beginning of February, is expected to lead the SBG repositioning strategy and achieve a “sustainable balance sheet” across the organisation’s global, financial and operational divisions.
“The appointment of Grigoris Christofides comes as part of several critical measures taken by BIHG to drive the successful transformation of the business and reposition SBG as the Kingdom’s national construction champion,” said Khalid Al-Gwaiz, CEO, BIHG.
“Christofides is a seasoned industry veteran and brings the necessary in-depth sector, and turnaround experience, to the organisation. We look forward to seeing the fruits of his dynamic and focused leadership, at a time when SBG is undergoing a challenging and complex transformation and restructure, which is a first in its 90-year history.”
Christofides joins a team mandated to regain SBG’s position as the Kingdom’s national, and the wider GCC’s regional, construction champion, while underscoring its vital role in the country’s economy in support of the Saudi Vision 2030, added SBG.
