Cruise Saudi Announces Acting CEO Appointment

Manal Saleh

Jeddah, April 23, 2026 — Cruise Saudi, a Public Investment Fund wholly owned portfolio company, announced the appointment of Taha Nazer as Acting Chief Executive Officer. The Board thanks Lars Clasen for his commitment and the contributions he has made during his tenure in establishing AROYA Cruises, developing cruise destinations across the Kingdom, and leading the development of Aman at Sea.

This appointment reflects the company's continued commitment to strong leadership, stability, and disciplined execution of its strategy as it enters its next phase of growth. The next phase of Cruise Saudi is going to focus on operational excellence, reaching profitability and continuing the customer centric approach.

Taha Nazer, who has served as Chief Financial Officer since 2023, brings over 19 years of experience across the oil and gas, aviation and cruise sectors, where he developed strategic leadership, deep financial expertise and extensive governance experience with a proven record of driving growth, transformation, cost efficiencies. In his role as Acting CEO, Nazer will lead Cruise Saudi across all strategic, commercial, operational and financial priorities, including the continued development of the cruise sector in Saudi Arabia, cruise destination development across the Kingdom, and the Company's international projects.

Raid Bin Abdullah Ismail, Chairman of Cruise Saudi, said:

"The Board thanks Lars for his leadership and contributions to Cruise Saudi. The Board has appointed Taha Nazer with full confidence in his ability to lead the Company through this phase. His deep understanding of the business, strong commercial, financial and governance expertise, and proven track record make him the right leader to ensure continuity, drive performance, and deliver on our long-term strategic and commercial objectives."

Taha Omar Nazer, Acting Chief Executive Officer of Cruise Saudi, said:

“I am proud of the Board’s confidence in entrusting me to lead Cruise Saudi during this important phase. Our focus remains on strengthening performance and accelerating the delivery of our strategic and commercial objectives, while creating real and sustainable value. We are pleased to announce that the AROYA vessel is on her way to Jeddah ahead of the resumption of her scheduled sailings in May. Starting on May 14, AROYA will operate distinctive Red Sea itineraries across Saudi Arabia, Egypt and Jordan, offering an exceptional experience that combines regional destinations with the spirit of authentic Arabian hospitality.

These sailings also mark the lead-in to AROYA’s second Mediterranean season in June, as we continue to expand the brand’s reach and elevate the guest experience. We also look forward to Aman at Sea, which marks our entry into the global ultra-luxury cruise market in join venture with Aman Group. It is a significant project for Cruise Saudi and an important addition to our long-term growth ambitions, with delivery of the vessel expected in 2027.”

With Taha Nazer leading the Company, Cruise Saudi enters this next chapter focused on accelerating the growth of Saudi Arabia's cruise sector, expanding its destination portfolio, and delivering sustainable returns for its Shareholder, in line with the Kingdom's Vision 2030 ambitions.

https://cruisesaudi.com/ar