TAQA Saudi Arabia's Strategic Growth Agenda: CEO Transition to Propel Future Success

TAQA Announces CEO Transition

DHAHRAN, Saudi Arabia, May 29, 2025 – In a strategic move to enhance its growth trajectory, Industrialization and Energy Services Company (TAQA) has revealed the upcoming transition of its Chief Executive Officer. Khalid Nouh, who has been at the helm since 2019, will step down on May 31, 2025, as part of the company's evolution towards sustainable expansion and digital transformation.

Since his appointment, Nouh has played a critical role in reshaping the company's operational structure. His leadership saw the integration of multiple acquisitions, such as Tendeka and Cougar Drilling Solutions, positioning TAQA as a fully integrated energy service provider with a diversified portfolio of services and a workforce of over 5,500 employees across various markets.

During his tenure, TAQA achieved significant digital advancements, implementing a unified operational platform and establishing Centers of Excellence in key sectors like Drilling and Completions, aligning with regional energy transition goals. This period was marked by impressive revenue growth, showcasing TAQA's operational excellence and strategic execution.

Adel Al-Ghadhban, previously the Executive Vice President for Ventures and Chief Investment Officer, has been appointed as the Interim CEO effective June 1, 2025. With over 30 years of experience across different energy sectors, including two decades at TAQA, Al-Ghadhban is set to guide the company through this new chapter. His previous roles have equipped him with extensive expertise in portfolio management and corporate strategy.

Insights from Leadership

Upon announcing his departure, Khalid Nouh expressed gratitude for his journey at TAQA, highlighting the company's transformation into a global leader. "It has been an extraordinary journey and a privilege to lead TAQA through a period of remarkable growth and transformation. I am proud of what we've built together—a global platform with strong capabilities and a focus on sustainable, profitable growth," he stated.

Ahmed Al Zahrani, the Chairman of the Board, acknowledged Nouh's exceptional vision and dedication, paving the way for TAQA's future. He stated that Al-Ghadhban will build on the solid foundation laid during Nouh's leadership by focusing on performance, innovation, and growth.

"I am honored to take on this role at such a defining moment in TAQA's evolution," commented Al-Ghadhban. He emphasized the strength of TAQA’s foundation, its clear vision, and its exceptional teams, indicating a commitment to enhancing the company’s achievements and accelerating its strategic growth.

About TAQA

Founded in 2003, TAQA specializes in providing advanced solutions for the energy sector. Headquartered in Dhahran, the company operates in over 20 countries, offering a comprehensive portfolio of well solutions that include services like Coiled Tubing, Cementing, and Well Testing. With an expansive presence and a commitment to creating value for its stakeholders, TAQA is poised for continued success in the global energy landscape.

As the company gears up for this leadership transition, there is an air of anticipation around what the future holds for TAQA amid a rapidly changing energy sector. The new leadership is expected to emphasize innovation and market expansion as core components of the company's growth strategy moving forward.