Saudi Arabian Mining Company (Ma’aden) announces that the resignation of its Chairman and the appointment of a new member to chair its Board of Directors.
Saudi Arabian Mining Company (Ma'aden) announces the issuance of its Board of Directors resolution dated 28 September2019 to accept the resignation of His Excellency Engineer Khalid Bin Abdulaziz Al-Faleh (Non-Executive member, the Public Investment Fund representative); who submitted it on 27th September 2019, due to his special circumstances, to be effective from the date of submission.
The Board of Directors also approved the appointment of the Public Investment Fund’s candidate, His Excellency Mr. Yaser bin Othman Al-Rumayyan, as a Non-executive Director replacing the resigned member, as well as appointing him as Chairman of the Board of Directors Starting from 28 September 2019 till the end of the current board term on 24 October 2020.
Element List
Explanation
Resigning Member Name
His Excellency Engineer Khalid Bin Abdulaziz Al-Faleh
Membership Type
Non- Executive
Resignation Submission Date
2019-09-27 Corresponding to 1441-01-28
Resignation Acceptance Date
2019-09-28 Corresponding to 1441-01-29
Resignation Effective Date
2019-09-27 Corresponding to 1441-01-28
Membership Starting Date for the Resigning Member
2017-10-25 Corresponding to 1439-02-05
Reasons of Resignation
Special circumstances
Element List
Explanation
Appointed Member Name
His Excellency Mr. Yaser bin Othman Al-Rumayyan
Membership Type
Non- Executive
Membership Start Date
2019-09-28 Corresponding to 1441-01-29
Brief Resume of the Appointed Member
H.E. Al-Rumayyan holds a bachelor’s degree in accounting with more than 25 years' experience in major financial organizations. He is currently the Governor of the Public Investment Fund and a member of its Board of Directors. In addition, he chairs Saudi Aramco’s Board.
Element List
Explanation
Date of Board Meeting in which Appointed New Member(s) were Appointed
2019-09-28 Corresponding to 1441-01-29
Board Approval
In accordance with the Company's Articles of Association, the Board's appointment shall be presented to the General Assembly at its first meeting for final approval.
Additional Information
Ma'aden Board of Directors expressed its thanks and gratitude to His Excellency Engineer Khalid Al-Faleh for his efforts, valuable contribution and his dedication in achieving the Company’s objectives during his tenure in the Board. Wishing him all the success.
Comments