TAQA Saudi Arabia Announces CEO Transition as Part of Strategic Growth Agenda

Company prepares for the next phase of profitable growth, market expansion, and digital transformation.

DHAHRAN,Saudi Arabia,May 29, 2025/PRNewswire/ -- Industrialization and Energy Services Company ("TAQA"), a global leader in energy and industrial services, today announced thatKhalid Nouhwill step down from his role as Chief Executive Officer, effective31 May 2025, as part of the company's ongoing evolution and long-term strategic growth agenda.

Since his appointment in 2019, Khalid Nouh has been instrumental in transforming TAQA into a unified global organization. Under his leadership, the company successfully integrated a series of value-driven acquisitions, includingTendeka (Completions),AZR (Wireline),OPT Chemicals,Cougar Drilling Solutions,Oliden Technologies, andAlMansoori Petroleum Services (AMPS). These integrations positioned TAQA as a fully integrated energy services provider with more than twelve service lines and 5,500 employees across global markets.

During his tenure, TAQA digitized its business operations under a single platform, launchedCenters of ExcellenceinDrilling, Completions, and Intervention, and establishedTAQA Geothermal, aligning the company with regional energy transition ambitions. Additionally, Khalid played a key role in positioningARGASto support mineral exploration initiatives. Under his guidance, the company achieved remarkable revenue growth, driven by strategic execution and operational excellence.

With this solid foundation in place, TAQA is now focused on accelerating its next phase—expanding market presence and driving innovation.

To lead this new chapter, the Board of Directors has appointedAdel Al-GhadhbanasInterim Chief Executive Officer, effective1 June 2025.

Al-Ghadhban currently serves asExecutive Vice President – Ventures& Chief Investment Officerand brings over 30 years of experience in multiple energy sectors including portfolio management and finance across the energy and manufacturing sectors, including 20 years with TAQA. He was responsible for leading the company's group legal, risk, and compliance functions, and guiding strategy for TAQA's portfolio companies. He also serves on the boards of several TAQA subsidiaries, includingARGASas Vice Chairman,Cougar Drilling Solutions,TAQA Drilling Solutions (Canada), and was in board leadership roles atALARandJESCO.

Khalid Nouh, Outgoing CEO, said:

"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. I leave confident in the company's direction and leadership, and excited to see it reach even greater heights."

Ahmed Al Zahrani, Chairman of the Board, stated:

"On behalf of the Board, I want to thankKhalid Nouhfor his exceptional vision and dedication. He played a pivotal role in shaping TAQA into the global leader it is today—delivering on strategy, strengthening our service offering, and transforming the organization intoONE TAQA. As we look to the future, we are confident thatAdel Al-Ghadhbanwill build on this legacy with a sharp focus on performance, innovation, and growth."

Adel Al-Ghadhban, Interim CEO, commented:

"I am honored to take on this role at such a defining moment in TAQA's evolution. We have a strong foundation, a clear vision, and exceptional teams around the world. I look forward to working closely with our people, partners, and clients to build on our achievements and accelerate our strategic growth."

About TAQA

Founded in 2003, TAQA is an international company headquartered in Dharan that offers leading well solutions for the energy industry and is creating value and opportunity for all its stakeholders. TAQA has more than 5,500 people in more than 20 countries and serves multiple markets. TAQA offers a complete well solutions portfolio that includes Coiled Tubing and Stimulation, Cementing, Wireline, Frac, Directional Drilling, Downhole Tools, Completions, Well Testing, Slickline, Inspection, and H2S& Safety.

www.tq.com

SOURCE TAQA