Riyadh – Mubasher: The Board of Directors of the Saudi British Bank (SABB) has announced the results of the recent ordinary general assembly meeting (OGM).

Held on 18 December 2019, and attended by 80.6% of the company’s shareholders, the general assembly meeting approved electing members of the Board of Directors for the next three years starting from 1 Janaury 2020 to 31 December 2022.

Elected board members are namely, Lubna Suliman Al Olayan, Khalid Al Mulhem, Mohammed Al Omran, Saad Al Fadly, representing the General Organization for Social Insurance (GOSI); Ahmed Al Aulaqi, Maria Ramos, Martin Powell, and Stuart Gulliver.

Shareholders approved the appointment of  Lubna Al Olayan as a non-executive member of the board of directors as of 16 June 2019 until the end of the current Board term ending by the end of 2019, as per the merger agreement with Alawwal Bank.

Ahmed Al Aulaqi, Maria Ramos, and Martin Powell have been appointed as independent members, as per the merger agreement.

In addition to David Dew, Samir Assaf, and Stephen Moss, the representatives appointed by the Banks foreign partner, HSBC Holdings.

The meeting disapproved the formation of the Audit Committee for the next three years.

The new Board of Directors will soon hold a meeting to elect the Chairman, Vice Chairman, and subcommittee Chairmen and members, according to the company’s statement to the Saudi Stock Exchange (Tadawul).