Sipchem Announces the Appointment of The Chairman of The Board, Vice Chairman and Formation of The Board’s Committees for the New Term
Sunday, December 15, 2019
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ELEMENT LIST EXPLANATION
Announcement Detail Sahara International Petrochemical Company (Sipchem) is pleased to announce to its Shareholders that its Board of Directors, which was elected during the Ordinary General Assembly Meeting held on Sunday 08th of December 2019 for a three-year term that starts on 10th December 2019 and will end on 09th December 2022, issued the following resolutions on 12th December 2019.

 

 

First: Mr. Khalid A. Al-Zamil as Chairman of the Board (Non-Executive)

 

Second: Mr. Fahad S. Al-Rajhi as Vice Chairman (Non-Executive).

 

Third: Formation of the Nomination and Remuneration Committee of the following members:

1. Mr. Ziad A. Al-Turki – (Board Member – Independent)

2. Mr. Fahad S. Al-Rajhi (Board Member Non-Executive)

3. Mr. Bader A. Masoudi – (Board Member – Independent)

4. Mr. Abdulaziz A. Bin Dayel (Board Member – Independent)

5. Mr. Saeed A. Basmah – (Board Member – Independent)

 

Fourth: Formation of the Executive Committee of the following members:

 

1. Mr. Yousef A. Al-Zamil – (Board Member – Independent)

2. Mr. Fahad S. Al-Rajhi (Board Member Non-Executive)

3. Mr. Ayidh M. Al-Qarni (Board Member – Independent)

4. Mr. Reyadh S. Ahmed (Board Member Non-Executive)

5. Mr. Saeed O. Al-Esayi (Board Member – Independent)

 

A secretary of the Board of Directors has also been appointed Mr. Faisal M. Al-Modlij

 

In reference to Ordinary General Assembly Meeting (OGM) conducted on the same day Sunday December 08, 2019. OGM has approved Formation of the Audit Committee for a three-year term that starts on 10th December 2019 and will end on 09th December 2022 and define its tasks, work mechanism and remuneration, Audit Committee members as follows:

1. Mr. Ayidh M. Al-Qarni - Chairman (Board Member – Independent)

2. Mr. Mohammed F. Al-Nader (Independent Member – outside Board)

3. Mr. Mohammed F. Al-Kanani (Independent Member – outside Board)

 

Also, Sipchem Board has appointed representatives of the company for the Capital Market Authority (CMA) and the Saudi Stock Exchange (Tadawul) and (Edaa)