TAQA Saudi Arabia Begins New Chapter with CEO Transition Amid Strategic Expansion Plans
In a significant move aimed at positioning the Industrialization and Energy Services Company, also known as TAQA, for its next phase of growth, the company has announced the transition of its leadership. Khalid Nouh will exit his role as Chief Executive Officer on May 31, 2025. This decision marks a pivotal moment in the company’s strategic agenda, which focuses on expanding its market reach and fostering innovation.
Khalid Nouh has played a vital role since his appointment in 2019, steering TAQA through a transformative journey that has turned the organization into a comprehensive global entity. During Nouh's tenure, the company successfully executed several strategic acquisitions, such as Tendeka for completions and Cougar Drilling Solutions, which have greatly enhanced its service offerings. Today, TAQA boasts an integrated energy service platform, facilitated by over 5,500 employees operating across various markets globally.
Under Nouh's guidance, TAQA digitized its operations and established Centers of Excellence in key areas like Drilling and Completions. The company's foray into geothermal energy and commitment to align with regional energy transition initiatives are testaments to its forward-thinking approach. The revenue growth achieved during this period illustrates the effectiveness of a clear strategic vision and operational excellence.
With Nouh’s departure, Adel Al-Ghadhban has been appointed as the interim CEO starting June 1, 2025. Currently serving as the Executive Vice President of Ventures and Chief Investment Officer, Al-Ghadhban brings more than three decades of experience in the energy sector to his new role. His extensive background includes significant contributions in portfolio management, finance, and compliance at TAQA, making him well-prepared to navigate the company through its next chapter.
Khalid Nouh reflected on his journey leading TAQA, remarking on the extraordinary phase of growth and change the organization has undergone. He expressed confidence in the team and the strategic direction laid out, anticipating that the company will continue to thrive under new leadership.
Chairman Ahmed Al Zahrani acknowledged Nouh’s remarkable contributions, noting how his leadership helped transform TAQA into a competitive force in the global energy services market. The confidence placed in Al-Ghadhban by the Board highlights their dedication to maintaining TAQA’s momentum while continuing the legacy built under Nouh.
Adel Al-Ghadhban has committed to focusing on performance, innovation, and growth as he steps into his new role. He recognizes the substantial foundation established by his predecessor and intends to bolster TAQA's achievements further.
Founded in 2003 and based in Dhahran, TAQA provides various well solutions tailored for the energy industry, emphasizing the creation of value and opportunities. With operations stretching across more than 20 countries, TAQA covers a diverse portfolio including services for Coiled Tubing, Cementing, and Directional Drilling, thus signaling its comprehensive approach to meeting the demands of the modern energy landscape. As TAQA embarks on this new journey post-leadership transition, stakeholders await the innovative initiatives and growth strategies that Adel Al-Ghadhban plans to prioritize.