Majed Al-Hugail To Lead Saudi Cultural Development Fund As New CEO

The board of directors of the Cultural Development Fund (CDF), chaired by Minister of Culture Prince Badr bin Abdullah bin Farhan Al Saud, has appointed Majed bin Abdulmohsen Al-Hugail as the new chief executive officer (CEO) effective June 1. Al-Hugail is expected to lead the fund, continuing its growth and fostering the cultural sector’s development and sustainability.

Al-Hugail brings extensive leadership experience in the financial, cultural, and public sectors. His distinguished career includes roles such as general supervisor of the Ministry of Culture vice minister’s executive office and head of the private sector at Saudi Awwal Bank (SAB). He 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 Bin Dayel's tenure, CDF focused on developing and advancing the cultural sector. The CDF was founded in 2021 to enhance Saudi Arabia's cultural landscape. It is linked to the National Development Fund to promote a self-reliant cultural sector.

The CDF supports various cultural activities and projects, facilitates investment, and aims to improve the domestic cultural sector's profitability. This aligns with the National Culture Strategy and Saudi Vision 2030.

With inputs from SPA