stc proposes raising number of board members to 11

Saudi Telecom Co.’s (stc) board of directors recommended, on March 23, 2021 to amend Article 17 of the company’s Articles of Association, it said in a bourse filing.

The article suggested to raise the number of board members to 11 instead of nine, who will be appointed by the ordinary general assembly (OGM) for the new three-year session.

stc board seeks to increase diversity in the board of directors by having members with various experiences, qualifications, and capabilities, in order to boost their contributions, which will enrich interactions within related committees.

stc will obtain necessary approvals from the relevant authorities and raise the recommendation to the upcoming extraordinary general assembly meeting, date of which will be announced later.