Majed bin Abdulmohsen Al-Hugail will take over as CEO of the Cultural Development Fund (CDF) on June 1, 2024.
Al-Hugail's nomination was authorized by the CDF board of directors, which was chaired by Prince Badr bin Abdullah bin Farhan Al Saud, Minister of Culture.
Al-Hugail, with experience in finance, culture, and government, is fit to control CDF for growth, expansion, and impact on economy and society.
Riyadh, May 30, 2024. Starting on June 1, Majed bin Abdulmohsen Al-Hugail will serve as the Cultural Development Fund's new chief executive officer. This appointment was approved by the CDF board of directors, which is led by Minister of Culture Prince Badr bin Abdullah bin Farhan Al Saud. The experience of Al-Hugail has placed him in a very good position to manage the fund, which he will be able to do with flying colors through ensuring growth is continuous, development and sustainability in the cultural industry, and increasing the impact of the fund towards the economy and society. Al-Hugail has extensive experience in top positions in the public sector, the financial industry, and culture.
He has held several significant positions over his extraordinary career; the most recent was chairman of the Saudi Awwal Bank's (SAB) private sector and general supervisor of the deputy minister's executive office for the Ministry of Culture. Al-Hugail has a bachelor's degree in management from King Fahd University of Petroleum and Minerals, a board director diploma from the International Institute for Management Development (IMD) in Lausanne, and a master's degree in business administration from the London Business School.
He obtained all these degrees at Lausanne. Mohammed Bin Dayel oversaw the Cultural Development Fund (CDF) for three years, during which time its objectives were to develop and enhance the cultural industry. He takes Bin Dayel's place. The goal of the CDF's formation in 2021 was to enhance Saudi Arabia's cultural landscape. The National Development Fund, in conjunction with the CDF, works in a bid to support the creation of a self-sustaining cultural industry. As stipulated, the CDF is charged with the mandate to promote a wide range of cultural activities and projects, foster investment, and strive towards the goal of increasing the domestic cultural industry's profitability under the National Culture Strategy and Saudi Vision 2030. Fund for Cultural Development
