SPIMACO CFO Ranked 2nd in a Middle East and North Africa Award

Riyadh, Saudi Arabia, October 30, 2015 --(PR.com)-- The 9th Annual CFO Strategies Forum recognized Mr. Fahad Al-Shammari, CFO of Saudi Pharmaceutical Industries and Medical Appliances Corporations (SPIMACO Addwaeih) for achieving the 2nd ranking in (Revolutionary CFO of the Year Award) during the MENA CFO Awards Ceremony held in Sofitel The Palm Hotel in Dubai on 26th of October 2015. This award is presented to the CFO of a public or private company who has broken through the traditional boundaries of finance and demonstrated innovation by expanding beyond accounting and control to a more active role developing strategies, and articulating them internally and externally to win the support of all key stakeholders.

The judge’s panel has praised Mr. Fahad leadership skills that combined with his knowledge and expertise in Accounting and Finance field that assist him progressing in his career.

About SPIMACO Addwaeih:
Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) is a Saudi publicly listed company with a fully paid-up capital of SR 1200 million. It was established in 1986 with the main objective of setting up an advanced pharmaceutical industry in the Kingdom of Saudi Arabia, for the local production of medicines and medical appliances and to market these products inside the Kingdom and for Export. SPIMACO has developed a strong position in Saudi Arabia and is well positioned to sustain its growth and have a sound platform to serve export markets.

SPIMACO main manufacturing facility – Al–Qassim Pharmaceutical Plant was planned, constructed and equipped up to the highest quality levels. SPIMACO earned a lot of national quality awards and attained major international certifications.

SPIMACO serves successfully several markets locally and internationally and have built superior relations with regulatory bodies and the medical professions at large. The heavy investments in regulatory, marketing, sales and international alliances gave SPIMACO the market capabilities to prosper and overtake a lot of competitors.

An important and distinctive advantage of SPIMACO strategy is its relations with multinational companies. A very flexible, objective and versatile approach let to a multitude of relationships that served the interests of all parties.

Its financial performance over 18 years of operation is a model picture envied by numerous public companies.

About Fahad:
Fahad is a highly qualified financial executive having over 15 years of extensive and diversified experience in finance, accounting, project management, and investments in addition to holding a golden set of internationally recognized qualifications and certificates such as CFA III Candidate, SOCPA, CMA, MBA, Dip in Islamic Finance, and ACCA Certificate in IFRS CertIFR. He spent the first 10 years of career life starting from 2000 in STC which is the biggest telecommunication company in MENA region carrying over different roles and assignments. Early 2011 he moved to work with two of the biggest Saudi national projects where he spent total of 3 years in managing accounting functions, these projects are SATORP and Maaden Aluminum that are owned by Saudi Aramco and MAADEN respectively. Since April 2014 Fahad is holding a CFO role in a publicly listed company SPIMACO ADDWAEIH which is the biggest pharmaceutical company in KSA with total assets of SR4+bn and annual sales of SR1.5+bn.