Sipchem board names new audit committee member

Sahara International Petrochemical Co.’s (Sipchem) board of directors approved on Dec. 22, the resignation of an audit committee member, Ayed bin Muhammad Al-Qarni, according to a statement to Tadawul.

Al-Qarni submitted his resignation on Dec. 20, for personal reasons.

The board also approved the appointment of Mahmoud Saleh Al-Theeb to replace Al-Qarni, effective as of Dec. 22.

Al-Theeb holds a bachelor's degree in chemical engineering from King Fahd University of Petroleum & Minerals (KFUPM). He held several leadership positions with more than 20 years of experience in joint stock companies.

The appointment is pending the approval of the upcoming general meeting, the statement added.