SACO appoints Sameer Baeisa as Chairman, Mohammed Alqatari as Vice Chairman

Logo of Saudi Company for Hardware (SACO) 

Saudi Company for Hardware’s (SACO) board of directors appointed Sameer Baeisa as a Chairman of the board (Independent), during a meeting held on Aug. 7, the firm said in a statement to Tadawul.

The board also decided to appoint Mohammed Alqatari as a Vice Chairman (Non-executive).

In a separate statement, the company announced that Baeisa submitted his resignation from the membership of the audit committee (independent member) on Aug 7, to take effect on the same date, due to his appointment as Chairman.

The board of directors will appoint a member in the vacant position according to the procedure followed, as soon as possible, so that the formation of the committee is in line with what is required by the relevant statutory articles in terms of the minimum number of members of the audit committee (three members).