NCB appoints Al Ghamdi as new chairman

The National Commercial Bank (NCB) has appointed Saeed Mohammed Al Ghamdi as chairman, the bank said in a statement to Tadawul on Sunday.

Rashid Ibrahim Sharif was appointed vice chairman and Mohammed Ali Al Hokal as an independent director of the board. The term of the new board members will run from May 15, 2018, until May 14, 2021.

Last week, the bank had appointed Faisal Omar Alsakkaf as acting chief executive officer.

During the sixth extraordinary general assembly meeting, NCB also approved the formation of the audit committee and nomination and work rules, functions and remuneration of its members.

It also decided to form and assign members to the executive, compensation, nomination and governance committee, and risk committee, subject to necessary legal approvals.