Al-Faris National Investment Group, the owner of Optimiza network of companies, has appointed Majed Sifri, a veteran in the information technology and telecom sector, as the new chief executive officer. He succeeds Hazem Malhas.

Al-Faris National Investment Group is a leading publicly-listed IT investment and holding company with a capital of $48 million.

Sifri has 20 years of extensive experience in starting, leading and managing companies in the field of IT and telecommunications, said a company statement.

Majed established and led several North American companies like CTI Datacom, Apptek and most recently Redline Communication which he managed to take public on the London Stock Exchange (AiM) and on the Toronto Stock Exchange, it added.

Majed holds a Juris Doctor (JD) degree from the Washington College of Law at American University and an MBA degree in Finance from George Washington University.

“Sifri's appointment comes after an extensive search in the regional and international markets for a successor of Hazem Malhas” said Rudain Kawar, chairman of the board.

“Our decision as a board was based on Majed’s vast experience and knowledge in leading information technology companies, his relationships internationally and regionally, and his ability to deal with strategic opportunities and challenges.”

Kawar expressed his satisfaction and confidence in the new leadership of the group that will take Al-Faris to new heights.

“The experience that Sifri brings on board would help us develop on Al-Faris’ strategy and operating plans to achieve the company’s objectives region wide” he added.

Sifri said he was excited to be part of Optimiza’s success in the Middle East. "Optimiza is a well positioned and branded solutions provider across the region, and I look forward to working with the team to build on its past successes and take advantage of the immense potential for the future.”

The Al Faris group owns a network of IT services companies that offer technology services and solutions across the Middles East through a network of 9 offices employing over 500 IT professionals.-TradeArabia News Service