Riyadh – Mubasher: Abdullah Abdul Mohsin Al Khodari Sons Company (Al Khodari) disclosed that the reasons behind the resignation of both chairman and the whole board included shareholders’ request to dismiss more than one member without legitimate causes, according to a bourse filing on Thursday.
Al Khodari elaborated that the conduct of the board’s performance was accordingly affected.
Ambiguity and inaccuracy of information available from the previous board and executive management were among the reasons for stepping down.
The listed firm also attributed the resignation to “continuous interference by some of the company’s shareholders and their representatives in the work of the board of directors and the filing of false accusations against them,” according to the disclosure toTadawul.
Earlier this week, Al Khodari announced that Chairman, Sultan bin Mohammed Al Hajri, and the entire board resigned from their positions. The company back then said the reason behind that action was special circumstances.
In January, the company appointed Ali Hussain Al Busaleha as the new CEO.