Savola Group announced that it appointed Rayan Mohammed Fayez as chief executive. Fayez, who was previously chief executive of JP Morgan in Saudi Arabia, is expected to take up his duties on March 1, 2016. Fayez takes over from Abdullah M Nour Rahemi, who will retain his position as managing director of Savola until the end of the term of the current board, which expires on June 30, 2015.