02/03/2026 04:52 AST
Saudi utility developer Acwa appointed Samir J. Serhan as CEO effective March 1, replacing Marco Arcelli in a planned leadership transition as the company accelerates global expansion in renewable energy, desalination and green hydrogen.
The Tadawul-listed company said the appointment forms part of a structured succession plan approved by its board, taking into account the scheduled expiration of Arcelli's contract in April 2027. Arcelli, who has led Acwa since March 2023, will remain adviser to the chairman to support an orderly transition, according to a regulatory disclosure to Tadawul.
The leadership change comes as Acwa - one of the world's largest private desalination companies and a major investor in energy transition projects - continues to scale its international portfolio amid rising demand for clean power and water infrastructure.
Mohammad Abunayyan, founder and chairman of the board of directors of Acwa, said: "Acwa stands today as a Saudi national champion and a global leader in renewable energy, water desalination, and green hydrogen, and our position continues to strengthen."
He added: "This structured leadership transition reflects the strength of our governance and the maturity of our business platform. Our strategic direction remains clear and unchanged. We are pleased to welcome Dr. Samir Serhan to his new role as CEO of Acwa."
Serhan joined Acwa last year as president of Saudi Arabia and Middle East, where he was responsible for seven key markets, including Saudi Arabia, the UAE, Kuwait, Bahrain, Oman, Jordan and Iraq.
"I'm honored to lead Acwa at a pivotal moment as the company accelerates profitable global growth in renewable energy, water desalination, and green hydrogen solutions - including advancing green hydrogen to decarbonize heavy industries - to deliver scalable, sustainable impact worldwide," said Serhan.
Previously, Serhan served as chief operating officer of the US-based company Air Products, where he had global responsibility for operational business and project execution with profit and loss accountability across the Americas, Asia, Europe, Africa, the Middle East and India. He also led technology, global engineering, manufacturing and equipment functions at Air Products.
Earlier in his career, he was president, Hydrogen for Praxair. For 14 years prior, he worked at the Linde Group in leadership positions in the US and Germany, culminating in his role as managing director of Linde Engineering.
Acwa, recently rebranded from ACWA Power, is a key developer of power and water infrastructure projects under public-private partnership models and plays a central role in Saudi Arabia's energy transition strategy.
Arab News
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