Acwa Board of Directors names Dr. Samir J. Serhan Chief Executive Officer

• Dr. Samir J. Serhan named CEO effective today by Acwa Board of Directors.
• Dr. Serhan was previously President of Saudi Arabia and the Middle East at Acwa, and formerly Chief Operating Officer of US-based Air Products.
• Marco Arcelli, CEO of Acwa since March 2023, remains as an advisor to the Chairman of the Board of Directors to ensure a smooth transition.

RIYADH, Saudi Arabia, March 1, 2026 /PRNewswire/ -- Acwa, the world's largest private water desalination company, a leader in energy transition, and a first mover into green hydrogen, announced the appointment of Dr. Samir J. Serhan as chief executive officer effective March 1, 2026. In line with the natural progression of executive leadership terms and Acwa's disciplined governance framework, the Board of Directors of the Saudi-listed company made this appointment as part of a planned and structured leadership transition and succession process overseen by the company's Board Nomination and Remuneration Committee. The Board and the former CEO Marco Arcelli agreed to implement the planned succession process to ensure continuity and stability. The company's long-term direction remains unchanged.

Since joining Acwa last year as President of Saudi Arabia and Middle East, Dr. Serhan has worked closely with the leadership team and is fully prepared to assume this new responsibility. Previously Dr. Serhan was chief operating officer of the US-based company Air Products where he had global responsibility for the company's operational business and project execution with P&L accountability for the Americas, Asia, Europe, Africa, the Middle East, and India. He also led functions including technology, global engineering, manufacturing, and equipment at Air Products. Earlier in his career he was president, Hydrogen for Praxair. For 14 years prior, he worked for the Linde Group in leadership positions in the US and Germany, culminating in his role as managing director, Linde Engineering. Dr. Serhan brings more than three decades of global leadership experience across large-scale industrial and infrastructure organizations, with a strong track record in driving operational transformation, strengthening institutional capability, and delivering disciplined and profitable growth in complex, capital-intensive environments.

Mohammad Abunayyan, Founder and Chairman of the Board of Directors of Acwa, said: "Acwa stands today as a Saudi national champion and a global leader in renewable energy, water desalination, and green hydrogen, and our position continues to strengthen. We are grateful for Marco's leadership in advancing Acwa's strategy and accelerating our growth trajectory. This structured leadership transition reflects the strength of our governance and the maturity of our business platform. Our strategic direction remains clear and unchanged. We are pleased to welcome Dr. Samir Serhan to his new role as CEO of Acwa."

Dr. Samir J. Serhan, the incoming CEO of Acwa, said: "Every day affords us new opportunities to help our customers and meet pressing energy and water needs around the world. I'm honored to lead Acwa at a pivotal moment as the company accelerates profitable global growth in renewable energy, water desalination, and green hydrogen solutions — including advancing green hydrogen to decarbonize heavy industries — to deliver scalable, sustainable impact worldwide. I look forward to working with our talented Acwa teams around the globe to build on the progress we have achieved and shape the next chapter of our journey."

Marco Arcelli, the outgoing CEO of Acwa, said: "Over the past three years, Acwa's portfolio has doubled in size, and we are on track to double it again by 2030, scaling both our footprint and our impact. Acwa now produces around 25% of the world's desalinated seawater. We have expanded into new markets, including Azerbaijan, China, Kuwait, and Senegal, while advancing energy export opportunities from Saudi Arabia, and cementing our leadership in green molecules. What we have achieved reflects the scale of our ambition, the discipline of our execution, the dedication of our people, and the trust of our partners."

Acwa supports energy and water security as well as supply reliability, which are priorities that are fundamental to economic resilience and community wellbeing worldwide. Today, Acwa provides clean drinking water for nearly 34 million people and power for almost 76 million people every day.

About Acwa

Acwa (TADAWUL: 2082) is a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a leader in the global energy transition. Registered and established in 2004 in Riyadh, Saudi Arabia, Acwa employs over 4,000 people and is currently present in 15 countries in the Middle East, Africa, Central Asia, and Southeast Asia. Acwa's portfolio comprises 111 projects in operation, advanced development, or under construction with an investment value of SAR 430 billion (USD 114.8 billion) and the capacity to generate 93 GW of power (of which 52 GW is renewables) and manage 9.3 million m3/day of desalinated water. This energy and water are delivered on a bulk basis to address the needs of state utilities and industries on long-term, off-taker contracts under utility services outsourcing and public-private partnership models.

Learn more: www.acwapower.com