AFG International (Cenomi Retail), Saudi Arabia’s leading retail brand partner, announced a major leadership transition today. The company appointed Sameer Jain as its new Chief Executive Officer, effective 1 July 2026.
Jain steps into the role during a critical chapter in the companyโs history. He will guide the business through its next phase of transformation, sharp strategic execution, and aggressive market expansion.
Al-Futtaim Alliance Fuels Next-Gen Retail Growth
This executive shift aligns with a broader long-term strategy. The initiative follows the entry of Al-Futtaim as a strategic shareholder in 2025 after acquiring a 49.95% stake.
The corporate alliance focuses on digital innovation, operational excellence, and customer-centric value creation. Jainโs appointment directly reflects the company’s commitment to secure its leadership position in Saudi Arabiaโs booming retail landscape.
Board Instills Strong Confidence in Jainโs Leadership
The corporate leadership team highly values Jainโs deep strategic background and extensive operational expertise. Board members expect his unique skill set to generate immediate, sustainable value for all major stakeholders.
Commenting on the appointment,ย Hussein Shobokshi, Chairman of the Board of Directors atย AFG International, said:โJain brings deep strategic and operational expertise, complemented by a strong track record of leading complex business transformations. His proven ability to drive business performance, lead large-scale change initiatives, and unlock growth opportunities will be instrumental as AFG International continues to advance its transformation agenda and deliver long-term value for all stakeholders. We are confident that his leadership will help accelerate the company’s next phase of growth while further strengthening our position as Saudi Arabia’s leading retail brand partner.โ
A Vision Centred on Market Excellence and Shared Value
Jain recognizes the immense potential of the brand portfolio and the talent within the corporate ranks. He plans to scale the enterprise rapidly by working closely with internal teams and external ecosystem partners.
Commenting on his appointment, Sameer Jain said: โIt is a privilege to join AFG International at such an important moment in its journey. The company has a strong foundation, an exceptional portfolio of global brands, and a talented team. I look forward to working closely with our people, brand partners, customers, and shareholders as we continue strengthening performance, enhancing customer experiences, and unlocking new opportunities for growth across the Kingdom and beyond.โ
Two Decades of High-Impact Executive Leadership
Jain offers over twenty years of leadership excellence across the retail, strategy, and business transformation sectors. His corporate track record demonstrates a unique ability to navigate complex market challenges and restore profitability.
- Proven Portfolio Growth: Spearheaded new business ventures and expanded future corporate asset portfolios.
- Repositioning Success: Served as CEO of New Business and Home Centre Middle East at Landmark Group to boost operational effectiveness.
- Consulting Roots: Advised global organizations at elite consulting firms including McKinsey & Company, A.T. Kearney, and Ernst & Young.
Gracious Transition Acknowledges Past Contributions
As AFG International enters this futuristic growth phase, the corporate board acknowledges its previous leadership. The firm expressed deep gratitude to outgoing CEO Salim Fakhouri, who recently resigned from his post.
The leadership team warmly thanked Fakhouri for his vital corporate contributions over the years. The company officially extends its best wishes to him for all future professional endeavors.
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