Arabian Cement’s new board appoints chairman, vice-chairman

Arabian Cement Co.’s board of directors today elected Ibrahim Suliman Abdulaziz Alrajhi as chairman and Saud Abdulaziz Alsulaiman as vice-chairman for the new three-year term starting  Jan. 1, the company said in a statement to Tadawul.

The board also named Hani Mohammed Lahji as board secretary and appointed company representatives to the Capital Market Authority (CMA).

In its first meeting for the new term, the board formed the nominations and remunerations committee, the risk management committee, and the governance and social responsibility committee.

The auditing committee was previously formed on April 18, 2017.

In a separate statement, the company said that chief executive Qasem Abdulghani Qasem Almaymani resigned today for personal reasons.

The board accepted the resignation, effective March 31 2018, and will announce the new CEO soon, it added.