Prince Turki bin Salman has been appointed as the new chairman of the Saudi Research and Marketing Group (SRMG), succeeding Prince Faisal bin Salman who was recently named governor of Medina province, the London-based Asharq al-Awsat reported on Sunday.
The new appointment was approved in a board meeting by the SRMG's Board of Directors on Saturday and will be put up for approval at the next regular General Assembly meeting, according to the paper.
“At the meeting, the board members acknowledged Prince Faisal's efforts in leading SRMG to achieve numerous important accomplishments during his 10 year tenure,” Asharq al-Awsat wrote.
The Saudi Research and Marketing Group (SRMG) is parent company of the London-based newspaper.
Prince Turki's tenure as SRMG chairman extends to April 30, 2015. Prince Turki was born in Riyadh in 1987 and holds a bachelor degree in marketing from King Saud University and he is currently the chairman of Tharawat Holding Company, according to Asharq al-Awsat.