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Bakr Bin Laden relinquishes major duties at SBG

Bakr Bin Laden, incumbent president at Saudi BinLadin Group (SBG), has relinquished a number of his major responsibilities

Incumbent president, Bakr Bin Laden has stated his intention to relinquish a number of key responsibilities at Saudi BinLadin Group (SBG).
Incumbent president, Bakr Bin Laden has stated his intention to relinquish a number of key responsibilities at Saudi BinLadin Group (SBG).

Bakr Bin Laden has relinquished a number of his major responsibilities at Saudi BinLadin Group (SBG).

The company’s president was recently named the most influential figure in the Middle East’s construction industry by Construction Week’s 2015 Power 100.

In a letter dated 5 May, 2015, addressed to senior members of the Bin Laden family – and now in circulation within the region’s construction industry – SBG’s president stated his intention to entrust his foremost duties to director, Saleh Mohammed Bin Laden.

Bakr Bin Laden, who also identified a number of other key figures to assist with the handover, advised Saleh Mohammed Bin Laden to exercise caution in SBG’s selection of future projects.

In a portion of the letter addressing Saleh Mohammed Bin Laden directly, Bakr Bin Laden wrote: “I have decided to entrust you with, and assign you, all the administrative and legal responsibilities related to the business of contracting, its industries and trade activities, which are currently under execution or which will be taking place in the future.”

Later in the letter, he warned: “Dear brother [Saleh Mohammed Bin Laden]. You need to concentrate on preserving the rights of the group [SBG], both in terms of documentation and in calling for legal restitution, while preserving our good reputation in the process. You also need to be sure of the business feasibility of future projects, from every aspect, before you give your blessings on them and thus the group’s commitment to execute them.”

Supporting Saleh Mohammed Bin Laden in his new responsibilities will be: Eng Saad Mohammed Bin Laden, who will follow up on work-related plans; Dr Abdallah Khaled Alam, who will act as the representative for, and continue the execution of, public buildings and airports; and Eng Moataz al Sawwaf, who will act as the representative for, and continue the execution of, buildings and superstructure developments.

“This, in addition to whomever you feel is appropriate to work with in order to serve the higher purpose of this decision, especially when it comes to legal issues, the preserving of our rights, and under the supervision of Dr Abdallah Bin Laden,” Bakr Bin Laden added.

Yehia Mohammed Bin Laden, SBG’s vice chairman, will be “tasked with acknowledging and executing this [Bakr Bin Laden’s] decision during a period of six months to a year, during which period results will be evaluated”.

Meanwhile, Hasan Mohammed Bin Laden, Ahmad Mohammed Bin Laden, Haidar Mohammed Bin Laden, Abdallah Mohammed Bin Laden, and Mohammed Mohammed Bin Laden have been selected to offer “support, aid, and assistance” to Saleh Mohammed Bin Laden during this period of adjustment.

Construction Week contacted Saudi BinLadin Group for comment, but received no response.

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Construction Week - Issue 754
Nov 23, 2019