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Tag: Chief Executive Officer

  • Saudi Electricity Company Appoints Eng. Khalid Bin Salem AlGhamdi as Chief Executive Officer

    Saudi Electricity Company Appoints Eng. Khalid Bin Salem AlGhamdi as Chief Executive Officer

    The Board of Directors of the Saudi Electricity Company (SEC) has announced the appointment of Eng. Khalid bin Salem AlGhamdi as the company’s Chief Executive Officer, effective October 1st 2025 . The decision reflects the Board’s confidence in the capabilities of Saudi talent and their vital role in advancing the Kingdom’s electricity sector, a key enabler of the country’s ongoing economic and social transformation.

    Commenting on his appointment, Eng. AlGhamdi expressed his deep pride in this trust, extending his sincere gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister – may God protect them – for their unwavering support of SEC, which has enabled the company to achieve major milestones and strengthen its role in driving national development. He also acknowledged the guidance and close follow-up of His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz، Minister of Energy, whose leadership continues to serve as a cornerstone of SEC’s success.

    Eng. AlGhamdi also thanked the company’s Board of Directors for their trust and support, affirming that this confidence will be a driving force to continue working to fulfil the expectations of customers and shareholders. He added: “Together with my colleagues at SEC, I look forward to a new chapter of collective effort building on the company’s past achievements across all fronts. With the grace of God, we will continue to meet the expectations of more than 11 million customers across the Kingdom by providing reliable and high-quality electricity services. Our focus will be on further enhancing grid reliability, and increasing the company’s contribution to the ambitious objectives of Saudi Vision 2030 – reinforcing SEC’s position as a leading national utility and a key player in the global energy landscape.”

    Eng. AlGhamdi is regarded as one of the Kingdom’s distinguished national leaders. He has held several senior positions at SEC, including Executive Vice President for Technical Services, Acting Vice President of Risk and Compliance, Chief Engineer between 2022 and 2023, and Senior Vice President of Digital and Technology, where he oversaw the implementation of major strategies and programs across the company.1

    Contact Information

    Saudi Electricity Company
    Al-Arid, Riyadh
    alkahrabacare@se.com.sa
    920001100

    Source: Saudi Electricity Company

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  • Search will soon be underway for new Corpus Christi Housing Authority CEO

    The search will soon be on for a new chief executive officer of the Corpus Christi Housing Authority, according to officials.

    The board terminated the employment of Gary Allsup earlier this month. He had served as CEO for close to 14 years.

    While commissioners did not elaborate on what led to their decision when the votes were cast Sept. 15, several who had supported Allsup’s termination had expressed interest in a change of direction for the agency.

    The housing authority in the months preceding the vote had been at the crux of scrutiny for a combination of events, including questions about a controversial workforce housing program and concerns voiced over Allsup’s salary of about $528,000.

    The board on Sept. 24 authorized interim CEO Rhen Bass to go out for requests for proposals for a search firm, which will help lead the process of identifying potential candidates for a permanent CEO, board Commissioner Greg Smith told the Caller-Times.

    The winning firm will ultimately to be selected by commissioners, he added.

    The board also increased Bass’ annual salary of about $221,000 by $5,000 per month for the duration of time that he serves in the interim position, Smith said, and it approved a $600 car allowance.

    RELATED COVERAGE

    More: Corpus Christi Housing Authority is pausing a controversial housing program. Here’s why.

    More: Who should benefit from affordable housing? Corpus Christi and Texas officials weigh in

    This article originally appeared on Corpus Christi Caller Times: A search will soon be underway for a new housing authority CEO

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  • ByteDance’s China Chief Resigns After CEO Seeks Greater Urgency

    ByteDance’s China Chief Resigns After CEO Seeks Greater Urgency


    (Bloomberg) — The head of ByteDance Ltd.’s China operations is stepping down, a week after Chief Executive Officer Liang Rubo said the company needed to avoid complacency and make up lost ground in the AI race.

    Most Read from Bloomberg

    Kelly Zhang is relinquishing the post of Douyin Group CEO, a ByteDance spokesperson said on Wednesday, confirming an earlier report in Chinese media. She took on the role in 2020, sharing responsibilities with ByteDance China Chairman Zhang Lidong. ByteDance will not seek to appoint a successor and Kelly Zhang will shift her focus to the video-editing app CapCut, according to a person familiar with the matter, who asked not to be named as the plans are private.

    Beijing-based ByteDance, the owner of short-video platforms TikTok and Douyin, needs to adopt a sense of crisis and steer clear of mediocrity, Liang told staff in a companywide meeting at the end of January. He said he saw several organizational problems that needed to be addressed and lamented ByteDance falling behind in the artificial intelligence race kickstarted by OpenAI’s ChatGPT.

    “AI technology will greatly disrupt content creation and even lead to new creative tools. We hope to actively explore, fully understand and seize the opportunities,” Liang wrote in a memo to staff announcing Kelly Zhang’s move, reviewed by Bloomberg. He attributed the decision mainly to business development needs and said Han Shangyou, who previously reported to Kelly Zhang, will continue running day-to-day operations at Douyin and report to Zhang Lidong.

    Read More: ByteDance CEO Warns Staff Against Mediocrity After Slow AI Start

    Kelly Zhang joined ByteDance in 2014 and was one of the few prominent women in leadership posts among China’s biggest tech firms. In her position, she oversaw ByteDance’s products and operations domestically, including Douyin and news aggregator Toutiao. Outside of China, the TikTok business is headed up by Singaporean Shou Chew, who was one of the social media CEOs grilled by US senators last week.

    Kelly Zhang’s exit leaves some uncertainty at the top of a platform she helped build into an e-commerce and content force. Douyin started out as a repository for short videos but rapidly grew into an online shopping and social media leader, creating the template for ByteDance’s TikTok Shop overseas. The service is now challenging Tencent Holdings Ltd.’s WeChat for advertising, forcing the larger company to refocus on its own video initiatives, and eroding Alibaba Group Holding Ltd.’s market share in online shopping.

    “Kelly Zhang’s performance at Douyin speaks for itself and has led to impressive achievements, so this is definitely not a question of her ability,” said Li Chengdong, head of Beijing-based think tank Haitun. “There shouldn’t be much impact as their business has already become institutionalized. Douyin is already an industry leader.”

    Long hailed as the world’s most valuable startup, ByteDance now rivals Chinese internet pioneers like Tencent, with sales surpassing $110 billion last year. TikTok is also the first non-gaming app to bring in more than $10 billion in user spending over its lifetime.

    “I am excited to work together with the team members at CapCut to create our own dreams, and to grow in this AI era to draw a fantasy world together,” Zhang wrote in a social media post. “I will continue to use this entrepreneurial mindset to work hard for the next 10 years at the things I am passionate about.”

    (Updates with CEO letter to staff and further details on ByteDance plans)

    Most Read from Bloomberg Businessweek

    ©2024 Bloomberg L.P.



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  • The Topic Biden Keeps Dodging

    The Topic Biden Keeps Dodging

    President Joe Biden is following a strategy of asymmetrical warfare as the 2024 presidential race takes shape.

    Through the early maneuvering, the leading Republican candidates, particularly former President Donald Trump and Florida Governor Ron DeSantis are trying to ignite a procession of culture-war firefights against what DeSantis calls “the woke mind virus.”

    With the exception of abortion rights, Biden, by contrast, is working to downplay or defuse almost all cultural issues. Instead Biden is targeting his communication with the public almost exclusively on delivering tangible economic benefits to working-class families, such as lower costs for insulin, the protection of Social Security and Medicare, and the creation of more manufacturing jobs.

    While the leading Republican presidential contenders are effectively asking voters “Who shares your values?” or, in the harshest versions, “Who shares your resentments?,” Biden wants voters to ask “Who is on your side?”

    The distinction is not absolute. Trump, DeSantis, and the other Republicans circling the 2024 race argue that Biden’s spending programs have triggered inflation, and insist that lower taxes, budget cuts, and more domestic energy production would spur more growth. And in addition to their unwavering defense of abortion rights, Biden and his aides have also occasionally criticized some of the other Republican cultural initiatives, such as DeSantis’s “Don’t Say Gay” bill banning discussion of sexual orientation in early grades.

    But the difference in emphasis is real, and the contrast illuminates the core of Biden’s vision about how to sustain a national majority for Democrats. He’s betting that the non-college-educated workers, especially those who are white, who constitute the principal audience for the Republican cultural offensive will prove less receptive to those divisive messages if they feel more economically secure.

    “We need to reforge that identity as the party that gives a damn about people who feel forgotten, who have really tough lives right now,” says the Democratic strategist Mike Lux, who recently released a study of political attitudes in mostly blue-collar, midsize “factory towns” across the Midwest. “That’s the central mission. And that’s why I think Biden is right to be focusing on those economic issues first.”

    But other Democrats worry that Biden’s economy-first approach risks allowing Republicans such as DeSantis to define themselves as championing parents while advancing an agenda that civil-rights advocates believe promotes exclusion and bigotry. They also fear that Biden’s reluctance to engage more directly with Republicans over the rollback of rights raging through red states risks dispiriting the core Democratic constituencies, including Black Americans and the LGBTQ community, that face the most direct consequences from restrictions on how teachers and professors can talk about race or bans on gender-affirming care for minors. These Democrats have grown even more uneasy as Biden lately has moved toward Republican positions on immigration (with new restrictions on asylum seekers) and crime (by indicating that he would not block congressional efforts to reverse a reform-oriented overhaul of Washington, D.C.’s criminal code.)

    “Not engaging in culture wars does not mean that Democrats win: It means that we forfeit,” says Terrance Woodbury, chief executive officer and founding partner of HIT Strategies, a Democratic consulting firm that focuses on young and minority voters. The group’s polling, Woodbury told me, shows that “not only do Democratic voters expect Democratic leaders to do more to advance social and racial justice” but that “they will punish Democrats that do not.”

    My conversations with Democrats familiar with White House thinking, however, suggest that Biden and those around him don’t share that perspective. In that inner circle, I’m told, the dominant view is that the best way to respond to the culture-war onslaught from Republicans is to engage with it as little as possible. Those around Biden do not believe that the positions Republicans are adopting on questions such as classroom censorship, book bans, LGBTQ rights, and allowing people to carry firearms without a permit, much less restricting or banning abortion, will prove popular with voters beyond the core conservative states.

    More fundamentally, Biden’s circle believes that voters don’t want to be subjected to fights about such polarizing cultural issues and would prefer that elected officials focus more on daily economic concerns such as inflation, jobs, and health care. Those around Biden largely share the view expressed by the Democratic pollster Guy Molyneux, who studied public attitudes about key GOP educational proposals in two national surveys last year. “People don’t really want either side of these culture wars to win; they want to just stop having these culture wars,” Molyneux told me. “They really see a lot of this as a diversion.” A national survey released this week by Navigator, a Democratic polling consortium, supports Molyneux’s point: When asked to identify their top priorities in education, far more voters cited reducing gun violence and ensuring that kids learn skills that will help them succeed than picked “preventing them from being exposed to woke ideas about race and gender.”

    Biden hasn’t completely sidestepped the culture wars. After mostly avoiding the issue earlier in his presidency, he’s been relentless in his defense of abortion rights since the Supreme Court overturned Roe v. Wade last summer. (Earlier this year, Vice President Kamala Harris commemorated what would have been the 50th anniversary of Roe with a speech in Tallahassee, Florida, where she targeted DeSantis’s signing of legislation banning abortion there after 15 weeks.) When DeSantis signed the “Don’t Say Gay” bill last year, the White House also criticized him. And most recently in Selma, Alabama, Biden has also issued tough criticisms of the red-state laws erecting new hurdles to voting.

    Yet the Biden administration, and especially the president himself, has mostly kept its distance from the surging tide of bills advancing in Florida and other red states rolling back a broad range of civil rights and liberties. Tellingly, when Biden traveled to Florida last month, it was not to condemn DeSantis’s agenda of restrictions on classroom teachers or transgender minors, but to defend Social Security, Medicare, and the Affordable Care Act; the only time he mentioned DeSantis by name was to criticize him for refusing to expand eligibility for Medicaid health coverage under the ACA.

    Since the midterm elections, Biden has centered his public appearances on cutting ribbons for infrastructure projects and new clean-energy or semiconductor plants funded by the troika of massive public-investment bills he signed during his first two years; defending Social Security and Medicare; highlighting lower drug prices from the legislation he passed allowing Medicare to bargain for better deals with pharmaceutical companies; and combatting “junk fees” from airlines, hotels, and other companies. In his State of the Union address last month, Biden spoke at length about those economic plans and what he calls his “blue-collar blueprint to rebuild America” before he mentioned any social issues, such as police reform, gun control, and abortion. The budget Biden will release today advances these themes by proposing to extend the solvency of Medicare by raising taxes on the affluent.

    The emphasis was very different in marquee appearances last weekend from Trump and DeSantis. Trump, in his long monologue on Saturday at CPAC, accused Biden of exacerbating inflation and promised to pursue an all-out trade war with China. But those comments came deep into a nearly two-hour speech in which Trump blurred the boundary between calling on his supporters to engage in a culture war and an actual civil war, when he promised to be their “retribution” against elites and “woke tyranny.”

    When DeSantis spoke at the Ronald Reagan Presidential Library, northwest of Los Angeles, last Sunday, he delivered more of an economic message, attributing Florida’s robust population growth in part to its low taxes and low spending. But he drew a much more passionate reaction from his audience later when he denounced the “woke mind virus,” recounted his stand during the coronavirus pandemic against “the biomedical security state,” and pledged to “empower parents” against the educational establishment. DeSantis received his only standing ovation when he declared that schools “should not be teaching a second grader that they can choose their gender.”

    To some extent, the heavy reliance by Trump and DeSantis on these cultural confrontations reflects their belief that GOP primary voters are much more energized now by social rather than economic issues. Yet it also represents the widespread GOP belief that distaste for liberal positions on cultural issues remains an insuperable barrier for Democrats with most working-class voters, including a growing number of Latino men. “Blue-collar voters don’t separate cultural concerns from economic fears,” the GOP strategist Brad Todd, a co-author of The Great Revolt, told me in an email. “They think big global companies are in cahoots with the left on culture, and they don’t put pocketbook concerns ahead of way-of-life concerns.”

    Todd thinks Biden’s attempt to define himself mostly around economic rather than cultural commitments represents his desire “to jump in a time machine and go back to the Democratic Party of the ’80s.” Indeed, Biden, who was first elected to the Senate in 1972, came of age politically in an era when Republicans repeatedly used racially infused “wedge issues” to pry away working-class white voters who had mostly supported Democrats on economic grounds over the previous generation. Some Democrats see Biden’s recent moves to adopt more right-leaning policies on immigration and crime as a resurgence of that era’s widespread Democratic belief that the party needed to neutralize cultural issues, typically by conceding ground to conservative positions.

    Like others I spoke with, Jenifer Fernandez Ancona, the vice president and chief strategy officer at Way to Win, believes that focusing primarily on economic issues makes sense for Biden now, but that he will eventually be forced to address the GOP’s cultural arguments more directly. Sublimating those issues, she argues, isn’t sustainable, because it is “hurting the very people” Democrats now rely on to win and because the Republican cultural arguments, left unaddressed, could prove very persuasive to not only working-class white voters but also Hispanic and even Black men. Ultimately, Fernandez said, Biden and other Democrats must link the two fronts by convincing working-class voters that Republicans are picking cultural fights to distract them from an economic agenda that mostly benefits the rich. “We have to put to bed this idea [that] we can have an economic message that doesn’t address the racial grievance and fear of change that is at the center of all this culture-war stuff,” argued Fernandez, whose group funds candidates and organizations focused on building a multiracial electoral coalition.

    The debate among Democrats ultimately comes down to whether Biden is skillfully controlling the electoral battlefield or trying to resurrect a coalition that no longer exists (centered on working-class families) at the expense of dividing or demoralizing the coalition the party actually relies on today (revolving around young people, college-educated white voters, and racial minority voters). Several Democratic strategists told me that one obvious challenge with Biden’s trying to define the election around the question of which party can deliver the best economic results for working-class families is that polls throughout his presidency have found that more Americans would pick the GOP. “People still think that Trump economics was better for them than Biden or Obama economics,” Celinda Lake, who served as one of Biden’s lead campaign pollsters in 2020, told me.

    To Lake, that’s an argument for Biden’s strategy of stressing kitchen-table concerns, because she believes the party cannot win unless it narrows the GOP advantage on the economy. But other Democrats believe today’s party is less likely to persuade a national majority that it is better than Republicans for their finances than it is to convince them that the Trump-era GOP constitutes a threat to their rights, values, and democracy itself. Biden’s response to the Republican initiatives censoring teachers, rolling back abortion access, and threatening LGBTQ rights “simply cannot be ‘more jobs,’” Woodbury said. “If Democrats insist on fighting exclusively on economic terms, every poll in America shows they will lose.”

    Ronald Brownstein

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  • Karnataka Bank’s gross advances grow by 12.37% in Q3

    Karnataka Bank’s gross advances grow by 12.37% in Q3

    The provisional business numbers of Karnataka Bank for the third quarter of 2022-23 have shown a growth of 12.37 per cent in terms of gross advances.

    This was revealed by Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, at the regional heads’ review conference in Mangaluru on Monday.

    Sharing the provisional business numbers for Q3 of FY23, he said gross advances have grown at a satisfactory rate of 12.37 per cent. The gross advances of the bank increased to ₹63,658.59 crore during third quarter of 2022-23 against ₹56,651.67 crore in the corresponding period of 2021-22, recording a growth of 12.37 per cent.

    He said the share of CASA (current account savings account) stood at 31.91 per cent during the third quarter of 2022-23, and the core deposits of the bank stood at ₹84,592.60 crore.

    customer-centric approach

    “While focusing on quality credit augmentation, resource mobilisation under CASA and retail term deposits, NPA and stress management, consolidating other income streams, etc., let us further strive to improve the overall digital adoption to emerge as the ‘digital bank’ with our continued customer-centric approach,” he said.

    “We should continue our good performance and reach a new high by creating new benchmarks of performances, while stepping into the bank’s Centenary Year. This will be a tribute to the founding fathers of this great institution, who had a vision of bringing up the bank to the present position of being a socially committed thriving business entity,” Mahabaleshwara said.

    BL Mangaluru Bureau

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  • THE J.M. BURGUIERES CO., LIMITED (JMB) Has Announced the Promotions of RUSSELL WALTERS to PRESIDENT & CEO and BRAD SEGURA to VICE PRESIDENT of LAND & OPERATIONS

    THE J.M. BURGUIERES CO., LIMITED (JMB) Has Announced the Promotions of RUSSELL WALTERS to PRESIDENT & CEO and BRAD SEGURA to VICE PRESIDENT of LAND & OPERATIONS

    Press Release


    Oct 5, 2022

    It is with great confidence and excitement that the Board of Directors has unanimously chosen Russell Walters as JMB’s next Chief Executive Officer. Russell has played a vital role in expanding JMB’s investment in the environmental and conservation arena. His leadership skills have developed an exemplary team that has built a foundation for JMB to flourish. While Russell has been instrumental in working with retiring CEO Glenn Vice to transform and expand the business of JMB, he retains the integrity and ethos that has sustained our 145-year-old JMB family company.

    In this new capacity as CEO, Walters will be responsible for leading the family-owned land holding company to continued growth and financial success in ecological offsets, agriculture, and minerals. With the support of the shareholders, board of directors, and a world-class team, Walters will build on a solid business foundation created by his predecessors.

    Since first joining JMB in 2011, Walters served as the Vice President and Director of Environmental Services, and in 2021 was named President of Southern States Land & Timber, LLC, a JMB subsidiary. Specifically, he worked on land acquisitions and oversight of all regulatory and environmental issues related to 300,000 plus acres of land holdings in Louisiana, Texas, and Florida. During that time, Walters was credited with a variety of important accomplishments, including launching JMB into the conservation and mitigation banking industry through his background and expertise in wetland ecology. 

    In addition to Walters, another long-term company leader, Brad Segura, has been elevated to Vice President of Land and Operations. In his new role, Segura will be responsible for executive leadership for all environmental operations managed by JMB, as well as management and oversight of all land holdings owned by JMB and its subsidiaries. 

    Segura came to JMB shortly after Walters in 2012 as a Natural Resource Project Manager and later became the Environmental Operations Manager. The reunion allowed them to build on a nearly two-decade-old working relationship to successfully manage due diligence and acquisition of new land holdings as well as the engineering, design, permitting, and construction of over 20 wetland mitigation and conservation banking projects in Louisiana, Texas, and Florida.

    Prior to coming to JMB, Walters and Segura both served in other roles of increasing responsibility and authority at Fugro-John Chance Land Surveys, Inc., C.H. Fenstermaker & Associates, and the National Wetlands Research Center in Lafayette, Louisiana for Johnson Controls World Services, U.S. Fish and Wildlife Service, National Biological Service, and U.S. Geological Service.   

    Walters and Segura can be contacted at Russell@jmbcompanies.com and Brad@jmbcompanines.com.

    Originally established in 1877, JMB specializes in building value in lands through conscious dealings of mitigation and conservation banking credit creation and sales, natural resources consulting, leasing of agricultural, mineral, and hunting lands, and granting surface rights waivers to clients located in Louisiana, Texas, and Florida. Visit our website for more information www.jmbcompanies.com.  

    Source: J.M. Burguieres Co., Limited

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