About Us |

MMC is a leading milling and nutrition company and a key player in KSA’s human and animal food security ecosystem with an established market position and sustained track record of success, profitability and cash generation for shareholders.
MMC’s product portfolio includes three (3) categories; flour, animal feed and animal bran supplied to a diverse portfolio of customers. The company supplies flour to bakeries, food industries, food services and retail, while animal feed and animal bran are supplied to a range of customers in the animal rearing sector.
MMC has recorded the highest gain in market share in the flour market among other milling companies – capturing, in 2022G, 24% in volume, up from 20% in 2021G, and 22% in value terms - up from 18% in 2021G.
With a capacity of 1,400 metric tons per day, MMC is the leader in the animal feed market among the four milling companies - from a production capacity and market share perspective, and is the 4th among other market players; in terms of market value share of total compound animal feed.
Through its facilities in Al-Jumum, Khamis Mushait, and Al-Jawf, MMC is strategically positioned to capture internal demand across the Western, Southern and Northern regions of Saudi Arabia, and would benefit from a competitive cost advantage when exporting to nearby markets.
In Al-Jumum, which sits between the two religious destinations in Saudi Arabia, MMC captures the growing demand from Hajj and Umrah through a state-of-the-art facility that is the newest across all mills in KSA. In Q1 2025G, upon the completion of the ongoing capacity expansion project in Al-Jumum, MMC will have the largest milling line in KSA with a daily production capacity of 1,250 MT.
MMC is profitable and has a robust financial profile. In 2022G, the company generated a revenue of SAR 978 million and an EBITDA margin of 33%. The company sustained revenue in 2023G generating SAR 452 million in the first half of the year – almost on par with H1 2022G performance.
MMC has a lean balance sheet with no goodwill and a healthy current leverage level with a 2.3x net debt to EBITDA ratio and benefits from a highly cash generative business model, ensuring availability of minimal working capital requirement for future cash flows, and in turn consistency and growth in dividends.
MMC is committed to promoting sustainable practices in the food industry. It is currently the first within the milling sector to partner with the General Food Security Authority to raise awareness around food loss and waste through the National Program for Reducing Food Loss & Waste (Le Tadwoom)
MMC is led by an experienced management team with over 200 years of cumulative FMCG experience backed by an experienced Board of Directors and strategic shareholders with extensive experience in the milling industry. The company has superseded the Platinum Tier for Saudization set by the Ministry of Labor and Social Development.

Modern Mills Company (MMC) has a robust corporate governance framework in place, supported by experienced shareholders, best-in-class policies and regulations, and independent committees.

The company’s shareholder base includes Mada Holding, Al Ghurair Foods, and Masafi each owning 34.5%, 31.05%, and 3.45%, respectively, post-IPO. Following the IPO, the company has a 30% free-float.
MMC’s board consists of seven (7) non-executive members including the Chairman, of which three (3) are independent.

MMC’s board is supported by two (2) independent committees – a Nomination and Remuneration Committee and an Audit Committee, each with four (4) members.

Modern Mills Company (MMC) has a robust corporate governance framework in place, supported by experienced shareholders, best-in-class policies and regulations, and independent committees.

The company’s shareholder base includes Mada Holding, Al Ghurair Foods, and Masafi each owning 34.5%, 31.05%, and 3.45%, respectively, post-IPO. Following the IPO, the company has a 30% free-float. MMC’s board consists of seven (7) non-executive members including the Chairman, of which three (3) are independent.

MMC’s board is supported by two (2) independent committees – a Nomination and Remuneration Committee and an Audit Committee, each with four (4) members.

The company ensures adherence to best-in-class governance through the following:

Board of Directors

Dr. Ibrahim Alrajhi

Chairman of the Board of Directors

John Iossifidis

Vice Chairman

Martin Reintjes

Board Member

Abdulmohsen Al-Bazie

Board Member Nomination and Remuneration Committee Member

Djamal Djouhri

Board Member

Majid Nofal

Board Member

Dr. Ibrahim Alrajhi was appointed Chairman of Modern Mills Company in 2023.

Previous roles:

Project General Manager, Al-Watania Poultry Company, from [1999 – 2008].
Deputy General Manager, Al-Watania Poultry Company, from [1996 – 1999].
General Manager, Fursan Travel & Tourism Company, from [1994 – 1995].

Board Memberships:

Board Member, The National Center for Family Business, since (2023).
Board Member, ACWA Power Company, since (2022).
Supervisory Board Chairman, Awqaf Sulaiman bin Abdulaziz Al-Rajhi Company, since (2022).
Vice Chairman, Hessah bint Ibrahim Al Qubaisi Program, since (2018).
Board Member, Family Business Council Gulf in Dubai, since (2018).
Advisory Council Member, School of Business at Alfaisal University, since (2017).
Trustees Board Member, Nama Al-Rajhi Humanity Establishment, since (2016).
Chairman, Tibah Airports Development Company, since (2015).
Supervisory Board Member, Endowments of Hessah bint Ibrahim Al Qubaisi, since (2015).
Chairman, Tibah Airports Operating Company, since (2012).

Previous Memberships:

Chairman, Arabian Cement Company, from (2016 – 2020).
Board Member, Arabian Cement Company, from (1999 - 2016).
Board Member, Al Rajhi Group Holding Company, from (2009 - 2021).
Board Member, ACWA Power Company, from (2018 - 2020).
Board Member, Awqaf Sulaiman bin Abdulaziz Al-Rajhi Holding Company, from (2012- 2018).
Executive Committee Member, Awqaf Sulaiman bin Abdulaziz Al Rajhi Holding Company, from (2011 - 2018).
Board Member, Al-Watania Poultry Company, from (2011 - 2017).
Board Member, Sulaiman bin Abdulaziz Al Rajhi Real Estate Investments Company, from (2012- 2017).
Board Member, Al-Ajial Holding Company, from (2014 - 2017).
Chairman, Projects and Trading Limited Company, from (2008 - 2017).
Board Member, Al-Arrab Contracting Company, from (2012 - 2017).
Chairman, Mada Infrastructure Holding Company, from (2012 - 2016).

Education

PhD in Human Resources from London Metropolitan University, London, (2008).
Master of Administrative Science from Hult International Business School (formerly Arthur D. Little School of Management), USA, (1996).
Bachelor’s degree of Systems Engineering (Industrial Engineering) from King Fahd University of Petroleum and Minerals, Dhahran, (1994).

John Iossifidis was appointed Vice Chairman of Modern Mills Company in 2023.

Current Executive Positions:

CEO of Al Ghurair Investment Group, a limited liability company engaging in the field of investments, since [2020].

Previous Executive Positions:

CEO, Noor Bank PJSC, a listed company engaging in the field of banking services, from [2017- 2020].
Executive Vice President, Al-Mashreq Bank PJSC, a listed company engaging in the field of corporate and investment banking, from [2015 - 2017].
Managing Director, Standard Chartered Bank PLC, a listed company engaging in the field of banking services, from [2003 - 2009].
Regional President, corporate and customer coverage department, MENAP region at Standard Chartered Bank PLC, a listed company engaging in the field of banking services, from [2003 - 2009].

Board Memberships:

Board Member, Al-Mashreq Bank PJSC, since (2021).
Board Member, Hellenic Bank Public Company Limited, since (2021).
Member, Australian Institute of Company Directors, since (2019).
Member, Australian Business Council, since (2015).
Member and fellow, Australian Institute of Bankers, since (1988).

Previous Memberships:

Board Member, Noor Takaful Company, from (2017 - 2020).
Board Member - Non-Executive, Al-Mashreq capital (DIFC) Limited Company, from (2013 - 2020).
Vice Chairman - Non-Executive, Digital Financial Services Company LLC, from (2018 - 2020).
Board Member - Non-Executive, Makaseb investment funds Company BSC, from (2009 - 2017).

Education

Diploma in Corporate Governance from the Institute of Corporate Governance, Ireland, (2022).
MBA from Monash University, Australia, (1992).
Bachelor’s degree in Accounting from Monash University, Australia, (1984).

Djamal Djouhri was appointed Board Member of Modern Mills Company in 2023.

Current Executive Positions:

Executive Director, Al Ghurair Food Company, a limited liability company engaging in the field of flour milling and the production of eggs, oats, and animal feed, since [2019].
Executive Director, Al Ghurair Resources International Company, a limited liability company engaging in the field of food and grain supply chain such as flour, since [2019].

Previous Executive Positions:

Executive Director, Al Ghurair Resources International Company, a limited liability company engaging in the field of food and grain supply chain such as flour, corn, wheat, barley, and oil seeds, from [2009 - 2019].
Vice President, Al Ghurair Resources International Company, a limited liability company engaging in the field of food and grain supply chain such as flour, corn, wheat, barley, and oil seeds, from [2004 - 2009].
Marketing Manager, Gulf Import & Export Company, a limited liability company engaging in the field of grain trade, from [1990 - 2004].
Head of Treasury and Investment Department, Al-Mashreq Bank for foreign exchange trading and Capital Markets, a listed company engaging in the field of banking services, from [1983 - 1988].

Board Memberships:

Board Member, Reem Rice Mills Company, since (2021).
Board Member, Serendib Flour Mills Company, since (2021).
Canadian Business Council Member, since (2012).
Board Member, Big Mills of the South Company, since (1999).

Previous Memberships:

U.S. Wheat Associates Member, since (2012).
Canadian Wheat Board (CWB) Member, since (2012).
Global Grain Association (GGA) Member, since (2012).
Grain and Feed Trade Association (GAFTA) Member, since (2012).
U.S. Soybean Export Council (USSEC) Member, since (2012).

Education

Master’s degree in Business Administration from San Diego State University, USA, (1983).
Bachelor’s degree in Economics from Algiers University, Algeria, (1979).