ACWA Power Appoints Samir Serhan as CEO

ACWA Power, a leading private water desalination company, has announced the appointment of Samir Serhan as its new Chief Executive Officer, effective March 1st.

Serhan succeeds Marco Arcelli, who will transition to an advisory role to the Chairman during a transition period.

The Saudi Arabian firm, listed on the Saudi stock exchange, stated that the appointment is part of a planned leadership transition overseen by the Nomination and Remuneration Committee. The company added that this ensures business continuity and maintains its long-term strategic direction.

Arcelli had served as CEO since March.

Prior to his appointment, Serhan held the position of President of ACWA Power in Saudi Arabia and the Middle East. He previously served as Chief Operating Officer at Air Products, where he supervised operations and project execution across the Americas, Asia, Europe, Africa, the Middle East, and India.

Serhan's experience also includes a role as Head of Hydrogen at Praxair and leadership positions at Linde Group in the United States and Germany, most recently as Managing Director of Linde Engineering.

ACWA Power said its project portfolio has doubled in the past three years and aims to double it again by 2030. The company produces approximately 25% of desalinated water globally, providing drinking water to around 34 million people and electricity to around 76 million people daily.