SAIC names Yousef Algafari as Chairman

Logo of Saudi Advanced Industries Co. (SAIC)

Saudi Advanced Industries Co.’s (SAIC) board of directors approved today, June 28, appointing Yousef Algafari as Chairman in place of Abdullah Aljuraish, who retains his board membership, according to a bourse statement.

On June 6, the board approved the appointment of Aljuraish as Chairman and Abdullah Al-Humaidi as Vice Chairman, according to data available with Argaam.

In May, shareholders gave the go-ahead for dissolving the existing board of directors upon the request of a major shareholder, who owns 5.09% of SAIC’s shares.

They also elected board members for the upcoming three-year term, starting from May 31, 2022. The elected members are Abdullah Alsanea, Abdullah Al-Humaidhi, Abdulrahman Al-Obaid, Abdullah Aljuraish, Musa Al-Ruwaili, Yazeed Al Shathri, and Bader Al Shathri.