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UAE conglomerate overhauls Saudi retailer management

Summary by Semafor
UAE conglomerate Al-Futtaim has overhauled the management of one of Saudi Arabia’s largest retailers, where 17 former executives have been accused of corruption. The UAE firm, which bought a nearly 50% stake in AFG International last year, said it was appointing Sameer Jain as CEO of the business. It follows the announcement by the Saudi market regulator last month that it had referred 17 unnamed people, including current and former AFG board me…

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Semafor broke the news in New York, United States on Wednesday, June 24, 2026.
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