SABB elects new board of directors

The Saudi British Bank’s (SABB) shareholders elected a new board of directors for a 3-year term starting from January 1, 2020, the bank said in a statement to Tadawul on Thursday.

Shareholders also approved, during the general assembly meeting held on Dec. 18, a number of resolutions related to the nomination of board members for the term ending Dec. 31 2019.

In addition, they disapproved the formation of the audit committee for the upcoming 3-year term, as well as its functions, controls and members rewards.

The new board of directors will convene to elect a chairman, vice chairman, as well as chairman and members of sub-committees, subject to regulatory approval, the statement added, noting that the date will be announced in due course.