Riyadh – Mubasher: The Saudi Arabian Mining Company (Maaden) accepted the resignation of its non-executive member and the Public Investment Fund’s (PIF) representative, Khalid bin Abdulaziz Al Faleh, which was submitted on 27 September 2019 for personal reasons.

The resignation came during the board’s meeting on 28 September 2019 and shall be effective from the submission date, Maaden said in a filing to the Saudi Stock Exchange (Tadawul) on Sunday.

Moreover, the company consented to appoint the PIF’s candidate, Yaser bin Othman Al Rumayyan, as a non-executive member replacing the resigned member.

Additionally, the board consented to name Al Rumayyan as its chairman starting 28 September until the end of the current board’s term on 24 October 2020.

Al Rumayyan holds a bachelor’s degree in accounting, and has over 25 years of work experience in major financial organisations. He is currently the PIF’s governor and a member of its board. In addition, he chairs Saudi Aramco’s board.

The board's appointment shall be presented to the ordinary general meeting (OGM) at its first meeting for final approval.