Saudi Arabian Military Industries (SAMI) today announced the appointment of its Chief Executive Officer, Dr Andreas Schwer, who was earlier the Chairman & President of Rheinmetall International and CEO of its Combat Systems Division.
SAMI also announced the formation of its Board of Directors, chaired by H.E. Ahmed Al Khateeb. The Board has permanent status and is set to play an active role in overseeing SAMI’s growth and development.
Commenting on the announcement, H.E. Ahmed Al Khateeb said, “It is an honor to lead Saudi Arabia’s new national military industries company, a key component of the economic diversification agenda under Vision 2030. The commitment to be the major contributor in ensuring 50 percent of the Kingdom’s military procurement spending is localized by 2030.”
SAMI’s Board members are H.H Prince Faisal Bin Farhan Alsaud, H.E. Eng. Khalid Alfalih, H.E. Dr. Ghassan Alsulaiman, Dr. Ghassan Alshibl, Mr. Abdulaziz Alsowailim and 3 defense industry experts who will join the board at a later stage.
SAMI has already signed MoU agreements with internationally renowned defense companies namely Boeing, Lockheed Martin, Raytheon and General Dynamics as well as ROSOBORONEXPORT to support the growth and development of its four business units: Air Systems, Land Systems, Weapons and Missiles and Defense Electronics.
Addressing his appointment, Dr. Andreas Schwer said, “SAMI has a clearly defined strategy and business targets, including to become a top 25 global defense company by 2030, and I look forward to working with the Board of Directors to realize these goals.”