Wafa Insurance approves non-renewal of CEO’s employment contract

15/10/2019 Argaam

 

Saudi Indian Company for Cooperative Insurance’s (Wafa Insurance) board of directors received a letter from chief executive officer, Abdul Rahman Al Sahli, who requested the non-renewal of his employment contract.

 

The request was approved by Wafa’s board of directors, and the decision will come into effect today, Oct. 15, the insurer said in a bourse statement.

 

A new acting CEO will be appointed later on, after obtaining a no-objection letter from the Saudi Arabian Monetary Authority (SAMA), the statement added.

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