ACWA Power Makes Senior Leadership Changes

• ACWA Power's CEO for over a decade, Paddy Padmanathan has moved out of the role to stay on as a board member
• Marco Arcelli is the company's new CEO who previously worked with Enel Group in various senior leadership positions
• Raad Al-Saady has also joined the company since February 2023 as its managing director and vice chairman
• ACWA Power says these appointments are in line with its strategy to be well equipped to achieve its ambitious growth goals across the markets it operates

Saudi Arabia based energy projects developer and operator ACWA Power has announced senior leadership changes with former Enel Senior Executive Marco Arcelli taking reins of the company as its CEO as Paddy Padmanathan steps down from the role.

Padmanathan served as the company's president and CEO for more than a decade before passing on the baton to Arcelli. He will remain active as a member on ACWA Power's board.

More than 25 years of work experience on Arcelli's CV shows a significant amount of time spent in various positions at Italy Enel Group. ACWA Power says he played a crucial role in strategic positioning and growth of Enel Trade, Enel's North America operations and EP New Energy as its CEO and chairman.

At ACWA Power, Arcelli is tasked with providing strategic and operational leadership, overseeing global expansion efforts, and leveraging his expertise in digital innovation to optimize operations and drive growth.

Additionally, the management has officially announced Raad Al-Saady to have joined the company as managing director and vice chairman since February 2023. He will direct business growth and development, provide guidance on organizational strategy and human capita, managing stakeholder relationships and driving various strategic initiatives.

ACWA Power says these appointments are part of the company's strategy to be well equipped to achieve its ambitious growth goals across the markets it operates.

"As part of our growth strategy, we are expanding our management structure with top-tier talent from diverse backgrounds," said ACWA Power Chairman Mohammad Abunayyan. "Their contributions will enable us to further strengthen our stakeholder relationships and lead the way in our home market of Saudi Arabia and beyond."