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, to the company's general assembly to vote on filing a liability lawsuit against former board member Abdul Aziz Najib Al-Suwailem, who had direct and indirect executive powers through the company and its subsidiaries, and requesting the assembly to authorize the company's board of directors to take the necessary legal and regulatory measures in this regard.

In a statement to Tadawul, the company confirmed that it will not hesitate to take any action to preserve the rights of its shareholders and not to prejudice the interests of shareholders and its complete rejection of any practices that violate the regulations. It will announce any subsequent developments in this regard.

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