Southern Cement elects new board members for three-year term

Southern Province Cement Co. shareholders have elected new board members for the upcoming three-year term during their ordinary general meeting held on December 21, the cement producer said in a bourse statement.

The new members will assume their posts starting on January 1.

Shareholders elected Abdullah bin Musa'ed Al Saud as well as three representatives of the Public Investment Fund (PIF), one representative of the Saudi General Organization for Social Insurance (GOSI), one representative of the Public Pension Agency (PPA) in addition to others.

Shareholders also approved the updated regulations for the audit, nominations and remunerations committees; the updated regulations for the board policies as well as the remuneration policy for board members and executives.