Neom CEO Resigns Amid Performance and Management Issues

Saudi Arabia's ambitious Neom megaproject, part of its Vision 2030 economic diversification plan, has undergone a significant leadership change with the departure of CEO Nadhmi Al-Nasr. Al-Nasr, who had been leading Neom since 2018, was replaced by Aiman Al-Mudaifer amid reports of unmet performance metrics and a controversial management style. Neom, a $1.5 trillion development that includes futuristic ideas like The Line and Trojena, faces skepticism over its feasibility and environmental impact, alongside financial pressures from lower oil revenues. The leadership shake-up comes as the project struggles with delays and modifications to its original aspirations. Al-Mudaifer, from the Public Investment Fund, is expected to bring operational continuity and efficiency to Neom during this critical phase. The project remains under scrutiny as it attempts to meet its 2030 completion targets despite facing substantial challenges and criticism.