The board of directors of the Cultural Development Fund (CDF), chaired by Minister of Culture Prince Badr bin Abdullah bin Farhan Al Saud, appointed Majed bin Abdulmohsen Al-Hugail as CDF’s new chief executive officer (CEO) effective June 1, reported the Saudi Press Agency on Wednesday.
With his expertise, Al-Hugail is set to lead the fund, continuing its growth, fostering the cultural sector’s development and sustainability, and boosting its economic and social impact.
Al-Hugail has extensive leadership experience in the financial, cultural, and public sectors. His distinguished career includes several key roles, most recently as general supervisor of the Ministry of Culture vice minister’s executive office and Saudi Awwal Bank (SAB) head of the private sector.
Al-Hugail holds a master's degree in business administration from London Business School, a board director diploma from the International Institute for Management Development (IMD) in Lausanne, and a bachelor's degree in management from King Fahd University of Petroleum and Minerals.
He succeeds Mohammed Bin Dayel, who led the fund for three years, during which CDF devoted its efforts to developing and advancing the cultural sector.
The CDF was founded in 2021 to further boost the cultural landscape within Saudi Arabia. It is organizationally linked to the National Development Fund to promote the development of a self-reliant cultural sector. The CDF supports various cultural activities and projects, facilitates investment, and seeks to improve the domestic cultural sector's profitability in alignment with the National Culture Strategy and Saudi Vision 2030.
