Riyadh – Mubasher: Fawaz Alhokair Group’s board of directors appointed Sultan Fawaz Abdulaziz Al Hokair as the new deputy chairman, effective 18 January.

The current board’s term will end on 30 June 2020, according to a bourse filing.

Al Hokair’s net profits slumped 89.76% in the second quarter of 2017 to SAR 6.84 million, from SAR 66.82 million in Q2-16.

The company’s second quarter ended on 30 September 2017.

Al Hokair’s stock rose 1.05%, closing Thursday at SAR 28.95.