Shams shareholders elect new board members, disapprove audit committee formation

Tourism Enterprise Co.’s (Shams) shareholders elected a new board of directors for the upcoming three-year term starting May 28, 2021, during the ordinary general meeting (OGM) held on May 27, according to a bourse filing.

The elected members are Khaled Munif Al-Soor, Abdullah Omar Al-Suwailem, Rashid Sulaiman Al-Rasheed, Abdul Ilah Nasir Al Zarah, Fahd Abdullah Al Samih, Faisal Mohamed Al Harbi and Ahmad Abd Al-Latif Al-Barrak.

However, shareholders disapproved the formation of an audit committee, its supervisory and advisory duties and responsibilities, as well as remuneration of members for the new three-year term starting May 28, 2021.

Other agenda items were ratified, the statement added.