**CEO Stepping Down Marks New Phase for Saudi Arabia's Neom Project**

The ambitious Neom project in Saudi Arabia is undergoing a significant leadership change as Nadhmi al-Nasr, who has led the project since 2018, has stepped down from his role as CEO. The sudden departure was first reported by The Wall Street Journal earlier this week.

Aiman Al-Mudaifer, a real-estate executive associated with the kingdom's Public Investment Fund, has been named the acting CEO. According to a press release, this leadership shift aims to facilitate "operational continuity, agility, and efficiency" as Neom transitions into a new phase of development.

An internal email revealed by The Wall Street Journal described al-Nasr’s departure as "a strategic decision of the board and a natural evolution." Al-Mudaifer brings considerable experience to the table, holding positions on the boards of several key Saudi companies.

Neom is an essential element of Saudi Arabia’s Vision 2030, designed to diversify the country’s economy away from oil dependency by developing new industries and boosting tourism. Among its most notable features is The Line, a proposed horizontal structure stretching 106 miles and planned to house approximately 1.5 million people by 2030. However, this target has reportedly been scaled back.

Despite its ambitious goals, Neom has encountered numerous challenges, including financial difficulties and construction delays. Additionally, the project has faced scrutiny over alleged human rights violations. In a notable instance, Malcolm Aw, CEO of Solar Water, withdrew from a $100 million contract after learning that villages had been demolished to pave the way for the development.

The project has also experienced internal strife. Earlier this year, reports surfaced of a physical altercation between two executives. In a high-profile case, Antoni Vives, who was supervising the construction of The Line, reportedly engaged in a confrontation with an unnamed construction manager, highlighting the mounting pressures within the project.

As Neom moves forward under new leadership, the eyes of the world remain fixed on its progress and its capability to meet the high expectations set by Saudi Arabia's Vision 2030.