The Board of Directors of the "Cultural Development Fund," chaired by His Highness Prince Badr bin Abdullah bin Farhan Al Saud, the Minister of Culture, has issued a resolution to appoint Mr. Majed bin Abdulmohsen Al-Hugail as the Fund’s new Chief Executive Officer effective from Saturday, June 1, 2024. With his extensive expertise, Al-Hugail is set to lead the Fund to continue its growth, fostering the cultural sector’s development and sustainability as well as enhancing its economic and social impact.
Al-Hugail has extensive leadership experience in the financial, cultural, and public sectors. His distinguished career includes several key roles, most recently as General Supervisor of the Vice Minister’s Executive Office at Ministry of Culture, and Head of the Public Sector at Saudi Awwal Bank (SAB). Al-Hugail 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, where the Fund devoted its efforts to developing and advancing the cultural sector.
The CDF was founded in 2021 to enhance the cultural landscape within Saudi Arabia further. It is organizationally linked to the National Development Fund to promote the development of a self-reliant cultural sector. The fund actively supports various cultural activities and projects, facilitates investment, and seeks to improve the domestic cultural sector's profitability in alignment with the National Culture Strategy and Saudi Vision 2030.
