SAIC board appoints Abdullah Al-Humaidhi Chairman, Abdullah Aljuraish acting CEO

Abdullah Al-Humaidi, Chairman of Saudi Advanced Industries Co.

Saudi Advanced Industries Co.’s (SAIC) board of directors appointed Abdullah Al-Humaidhi as Chairman to replace Yousef Algafari, who retains his board membership.

In a statement to Tadawul, SAIC said the board also decided to appoint Abdulrahman Al-Obaid as Vice-Chairman. 

The decision also included the reconfiguration of the investment, and nomination and remuneration committees. 

In a separate statement SAIC said the board appointed Abdullah Aljuraish as Managing Director and acting CEO, effective Jan. 18, and decided to end the appointment of Musa Al-Ruwaili as Managing Director and acting CEO, effective the same date. 

Aljuraish holds a Master's degree and a Doctorate in commercial law and has extensive administrative and investment experience, the statement noted. 

On May 31, 2022, SAIC shareholders gave the go-ahead for dissolving the existing board of directors upon the request of a major shareholder, during an ordinary general meeting (OGM), Argaam earlier reported. 

Shareholders also elected board members for the upcoming three-year term, starting from May 31, 2022. 

In June, the company's board of directors decided to appoint Algafari as Chairman to replace Aljuraish.