Fahd Salman
Al Saud

Executive Chairman of Eirad Holding

Diversifying the economy

Fahd Salman Al Saud, Executive Chairman, Eirad Holding, talks about his company’s successes in diversifying Saudi Arabia’s industrial activities and the immense amount of business opportunities in the country.

“No country in the world has as many initiatives underway across so many sectors than in Saudi Arabia; the nation is not just a home for us, it is a home for the world.”

Fahd Salman Al Saud

    • Can you tell us about the founding of Eirad Holding and its current role in developing Saudi Arabia’s key sectors?

      After my father – the former Deputy Governor of the Eastern Province – left his government work after the Gulf War in 1991, he ventured into the private sector. He co-founded Eirad Holding Group with colleagues, including Mamdouh Ghazzawi, the current CEO. My father saw many opportunities in Saudi Arabia's infrastructure development, especially in organized logistics and efficient surveillance using technology for large security perimeters. We initially partnered with TRW Systems in the security market, which was later acquired by Northrop Grumman Corporation. Over the years, we decided to operate independently although we still maintain a very good relationship with the company. The technology they develop is incredible. Today, Eirad is a 100% Saudi Arabian company with in-house Saudi engineers. The security segment has evolved into our subsidiary New Generation Systems Arabia or NGMSA. We provide monitoring solutions to secure our client’s perimeters. We provide training, install systems and offer ongoing maintenance support. Our focus here is to develop software that enhances human potential and capability instead of replacing it. Our client’s personnel remain in control and our continued collaboration accelerates development.

      Beyond defense, we have a longstanding partnership with United Parcel Service (UPS) that stems from the need for structured logistics in Saudi Arabia. This collaboration initiated by my father remains invaluable and offers continuous learning and growth opportunities for people to develop. Working with UPS has been truly fantastic and something one cannot put a price on. We learn a great deal every day through our collaboration. The evolving logistics landscape in Saudi Arabia, facilitated by recent licensing reforms, has opened many opportunities. Previously restrictive, the market now thrives with increased providers. Development requires competition. Without it, stagnation is inevitable. Our collaboration with UPS is a valuable challenge. We see ourselves as an extension of the company and are committed to upholding their brand. Embracing the strong competition in Saudi Arabia fuels our growth and motivates us to work at the highest level.

      Additionally, we work with telecommunications provider KEIR International. Our success in this segment mirrors our approach at Eirad Holding. We value founders who communicate their ideas clearly and simply. When Founder and Chairman of the Board Mohammed Ali Al Dhalaan proposed the partnership, we decided to engage. Instead of being highly active in day-to-day decision making, we chose to take a more passive role and allow Al Dhalaan to lead. The company is now a publicly listed company. Its success reflects the potential we saw in Saudi Arabia from the very beginning. We also have our tourism segment Eirad International Travel and Tourism. I have avoided direct personal involvement in tourism, but I credit Ahmad Al-Hamzi, our executive vice-president of international business for reviving our tourism segment. When he began working with us, this was his first leadership role, and he has done an outstanding job. At the time he began we were thinking of halting our operations in tourism but were able to avoid this course of action and instead grow the business significantly.

    • I view Saudis as natural entrepreneurs. They are drawn to flexibility rather than bureaucratic structures. When I began at Eirad Holding there was a high turnover of employees compared to the market average. We engaged with all 600 employees and found that the key problem was a lack of perceived long-term prospects within the organization. To build trust and despite initial skepticism from some due to my familial connections, I undertook the challenge of gaining a Master of Business Administration at London Business School. We prioritized employees by covering government fees after 10 years of service and providing comprehensive medical insurance. Our efforts paid off and resulted in our minimal employee turnover today. I believe in fostering a positive learning environment. In leadership, I emphasize collaboration. It is important to always use words such as working with instead of working for. I always give as much opportunity as possible to people who work with us. If we do not work together, we will never succeed. It is also important for professional growth to remain quiet and allow individuals to make decisions. Our colleagues need to feel empowered and have the necessary confidence to make proper decisions.

      In particular, the rapid development of the information and communications technology sector demands collaboration as absorbing it all individually is impossible. In Saudi Arabia, we engage with numerous partners on various projects, which is a crucial approach for continuous learning and development. The rise of artificial intelligence is both fascinating and concerning, especially as a parent. I sometimes contemplate how to guide my seven-month-old daughter in a world being rapidly transformed by this technology. The challenge lies in ensuring we sustain income, opportunities and the unique value people bring along with rapid innovation. Although the path ahead will be tricky, collaborating with others in the industry is certain to provide new and exciting journeys.

    • Sports has become integral to Saudi culture and a large positive contributor to our wellbeing. The shift towards an active lifestyle – especially among the younger generation – has addressed historical obesity issues and fostered happiness and stress relief through socializing. Today many participate in many different types of sports, including swimming and underwater diving. Being close to the ocean opens many opportunities in this regard. In terms of team sports such as football, it is extraordinary to see what is being done in Saudi Arabia. A huge number of people attend games and are very passionate about the sport.

      Saudi Arabia’s Minister of Sports Abdulaziz bin Turki Al Saud – an athlete and friend – has played a key role in recognizing the value of sports and what is required. When we set up the Water Sports and Diving Federation, he was a deputy at the sports authority and not yet the minister. My involvement in establishing the Water Sports and Diving Federation provided me with valuable insight into the intricate workings of Saudi Arabia's regulatory landscape and what happens inside the engine that runs the country. The work involved engaging with various sectors, ministries, non-governmental organizations and non-profit organizations. The private sector is rewarding because it keeps you engaged. Saudi Arabia’s collaborative approach and focus on fostering consensus across separate entities sets us apart globally. It has provided us with numerous sandboxes for ideas and cross-sector collaborations. No country in the world has as many initiatives underway across so many sectors than in Saudi Arabia; the nation is not just a home for us, it is a home for the world. This is the essence of what we aspire to create.

    • Two of my favorite projects are led by remarkable individuals, Group CEO Jerry Inzerillo of the Diriyah Gate Development Authority and CEO John Pagano of Red Sea Global. Inzerillo’s mentorship has been invaluable. Pagano’s top leadership skills were evident when we signed an MoU between the Diving and Water Sports Federation and Red Sea Global during a visit to the site when resorts on the Red Sea project were opening. Witnessing his interactions underscored his influence, the position of admiration he holds and the positive work environment he fosters. These experiences have resonated with me and have earned the trust of Eirad Holding. Both Inzerillo and Pagano are brilliant businesspeople who contribute significantly to our community and underline Saudi Arabia’s booming tourism sector. Today, Saudis actively participate as tour guides and drivers compared to 2005 when such roles were rare for Saudi nationals. This reflects both the sector's growth and our openness to embrace change. There exists immense potential for the local tourism sector today and in the future.

    • My initial job was not at Eirad Holding but a two-year stint at Riyadh’s governor's office. My life dream had been to work in a public sector role. However, I realized my decision-making style and the way I work clashed with government bureaucracy. One wants to give 100% because otherwise you are taking away from people that genuinely need you. Wanting to do my best, I approached His Highness Prince Mohammed bin Salman Al Saud and asked him for some time to think. During this period, I assisted our mother in our holding company and discovered my true passion. I have been at Eirad Holding since 2008, which underlines the importance of aligning personal values with professional roles.