Riyadh – Mubasher: The Company for Cooperative Insurance’s (Tawuniya) board of directors on Monday approved appointing Abdulaziz bin Hassan Al Bouq as the new CEO effective immediately.

Al Bouq’s appointment came after the board approved the resignation of Raied bin Abdullah Al-Tamimi, the previous CEO for personal reasons.

Tawuniya’s board consists of Soliman Saad Al Humayyd, the chairman, alongside eight members, and Amr Elnemary, the company's CFO.

By 10:39 am Saudi time, the company’s stock reached SAR 98.50, increasing 0.61%.