The Saudi Exchange (Tadawul) witnessed the resignation of more than 70 chairpersons and board members from listed companies in 2021, for personal or business-related reasons, data compiled by Argaam showed.
Board of directors-related resignations reached 71, including five chairpersons, the last of whom was Ahmed Al Busaidi, Chairman of Al Mashaar REIT Fund (currently SICO Saudi REIT Fund), who resigned on June 30, 2021.
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Resignations of Chairpersons in 2021 |
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|
Company |
Chairman |
Resignation Date |
Reasons |
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|
Zoujaj |
Riadh Al Humaidan |
March 17 |
Medical Reasons |
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|
MESC |
Mohammad A. Alnamlah |
Jan. 1 |
Private Reasons |
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|
ACIG |
Nouf Elhaqabani |
Feb. 15 |
Personal Reasons |
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|
AlJazira REIT |
Walid bin Ghaith |
May 31 |
-- |
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|
SICO Saudi REIT |
Ahmed Al Busaidi |
June 30 |
-- |
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As for the board members, Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) board member, Nasser Al Mahasher, resigned on Jan. 1, 2021, for personal reasons.
Takween Advanced Industries Co.’s board member, Sulaiman bin Abdulaziz Al-Twaijri, also resigned on March 22, 2021, for personal reasons.
Meanwhile, Sultan AlSulaiman, Advanced Petrochemical Co.’s independent board member and audit committee member, resigned on July 27, upon the request of the General Organization of Social Insurance (GOSI) to change its representative.
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Resignations of Board Members in 2021 |
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|
Company |
Chairman |
Resignation Date |
Reasons |
|
Saudi Cement |
Mohammad Sulaiman Balghonaim |
June 30 |
Personal Reasons |
|
Yanbu Cement |
Ahmad Zaqil |
May 2 |
Business-related Reasons |
|
Tasnee |
Ibrahim Ali Al-Qadhi |
Sep. 28 |
Personal Reasons |
|
Herfy |
Ahmed Al Saeed |
June 21 |
Private Reasons |
|
Almarai |
Anees Ahmed |
Jan. 1 |
Private Reasons |
|
Care |
Abdulmohsen bin Hammad Al-Ashry |
July 13 |
Upon the request of Saudi Medical Care Group to change its representative at the company’s board of directors |
|
SABB |
Abdulmohsen bin Hammad Al-Ashry |
May 23 |
Retirement |
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AXA Insurance |
Nicolas De Nazelle |
Sept. 6 |
Gulf Insurance Group (GIG) completed 100% acquisition of AXA Gulf – which owns 32% of AXA Cooperative |
|
Stephen Wagstaff |
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|
Ali Abdulla Kanoo |
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|
Mobily |
Mohammed Hadi Al Hussaini |
Sept. 26 |
Personal Reasons |
|
GO |
Omar Subhi Abdul Karim Shanaa |
Oct. 14 |
Personal Reasons |
|
Emaar EC |
Ahmed Boshnak |
Sept. 27 |
The completion of the subscription and debt conversion agreement signed with the Public Investment Fund (PIF). |
|
Falih Motasim Hajaj |
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|
Bader Hisham Ali Riza |
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|
Ahmad Al Matrooshi |
Feb. 22 |
Personal Reasons |
|
|
Red Sea |
Tareq Mohammed Telmesani |
May 1 |
Personal Reasons |
|
Arabian Centres |
Omar Hadir Al-Farisi |
Dec. 29 |
Personal Reasons |
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