Tihama to file liability lawsuit against former board member

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co.’s board of directors recommended, on Nov. 30, filing a liability lawsuit against former board member Abdulaziz Al-Suwailem, who had direct and indirect executive powers through the company and its subsidiaries.

Board members also called on the general assembly to authorize the company's board to take the necessary legal and regulatory measures in this regard, according to a statement to Tadawul.

For more news on listed companies

Tihama vowed to take any action required to preserve the rights of its shareholders and to not prejudice their interests, while shunning any practices that violate market regulations. It will announce any subsequent developments in this regard.

According to data available to Argaam, Tihama appointed Abdulaziz Al-Suwailem as Managing Director and CEO in November 2023.

In May 2024, the company announced Al-Suwailem’s resignation for personal reasons, while continuing as CEO.

Last November, the board of directors dismissed Al-Suwailem from his position as CEO, while maintaining its legal right to monitor all violations and retaliate in this regard, vowing to announce any developments in due course.