Neom's board of directors announced on Tuesday the appointment of Aiman Al-Mudaifer as acting CEO of the company following the unexpected departure of Nadhmi Al-Nasr, who was put in charge of the project in 2018. The region, as envisioned by Saudi Crown ...

Nasr, the long-time chief executive of the $500 billion NEOM mega-project at the heart of Saudi Arabia's drive to diversify away from oil, has departed, NEOM said on Tuesday without giving a reason.

Longtime CEO Nadhmi al-Nasr left Neom, Saudi Arabia’s marquee development, which has been plagued by delays, cost overruns and staff turnover.

Saudi Arabia's ambitious futuristic city plans have been bogged down by delays and changes. The most recent is the departure of its CEO, Nadhmi al-Nasr.

Saudi Arabia announced Tuesday that it was replacing the chief executive of its futuristic mega-city NEOM as scepticism mounts over the Gulf kingdom's most ambitious development projects.

The departure of the longtime CEO marks a major shakeup at Neom, which is a showpiece of Riyadh’s economic ambitions.

Saudi Arabia replaced the executive that was overseeing its plan to build the $1.5 trillion futuristic development known as Neom, in the latest sign that the project is struggling to deliver on its ambitions.