Riyadh – Mubasher: Almarai Company announced the resignation of its non-executive chairman Sultan bin Mohammed bin Saud Al Kabeer with immediate effect, citing personal reasons.

The Saudi company’s board of directors decided to appoint Nayef bin Sultan bin Mohammed bin Saud Al Kabeer Al Saud as the new chairman, effective as of 9 March, according to a bourse statement on Tuesday. 

The appointment will be submitted to the company’s ordinary general meeting (OGM) for approval.

The newly-appointed chairman is a board member at Almarai’s executive committee and Aldar Chemicals Company. He is also the chairman of Export 30.