Padico Holding


PADICO Holding Appoints New CFO, Nimer Abdul Wahed

Rawabi, 13/9/2023


Palestine Development and Investment Company Limited (PADICO) announced the appointment of Nimer Abdul Wahed as the new Chief Financial Officer (CFO) succeeding Amjad Hassoun, who has retired after 25 years of substantial contributions to the company.


Abdul Wahed has a distinguished career of over 20 years, most recently in PADICO which he joined in 2018. Throughout this period, he has expertly excelled in senior roles encompassing financial management, corporate business development, and investment. He also amassed more than 7 years of auditing experience, collaborating with prominent local enterprises and international organizations during his tenure at Ernst & Young Global Audit Company.


Abdul Wahed is a member of several boards of public and private companies, most notably the Chairman of Palestine Real Estate Investment Company (PRICO) and the Board of Directors of the Palestinian Company for Distribution and Logistics Services (WASSEL), he is also the Chairman of Palgaz Services and Distribution.


Abdallah Sabat, Chief Executive Officer of PADICO said, “Abdel Wahed brings an analytical mindset with a strong financial background and track record of significant achievements which, I look forward to further achievements that would contribute to the company’s success and development.” Sabat also extended his appreciation to Hassoun on behalf of PADICO for his efforts and accomplishments during his long years of service, noting that he will remain as a member of the company’s family working as a consultant with the executive management and will continue serving on various boards of directors.


Abdul Wahed expressed his gratitude to the Chairman, members of PADICO’s Board of Directors, and the Chief Executive Officer for the immense trust they placed in him. “I look forward to working with the CEO and my Executive Management colleagues to continue to lead PADICO and maintain its prominent status in the Palestinian economy. I am confident that our joint efforts will contribute to greater achievements for this distinguished company,” said Abdel Wahed, also commending Hassoun’s efforts and impact on PADICO’s success throughout his years of service.

Amjad Hassoun, the former Chief Financial Officer, said: “It has been an honor working for this reputable group, PADICO has always been proudly a second home to me, I would also like to thank the Board of Directors and Executive Management for this rich experience, wishing the PADICO every success.”

Abdul Wahed holds an MBA and Bachelor’s Degree in Accounting and is a Certified Public Accountant (CPA) in the state of New Mexico, USA, and a member of the American Institute of Certified Public Accountants.

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