Riyadh – Mubasher: Al Yamamah Steel Industries Company has appointed Saad Ibrahim Al Mojil as the new Chairman of the board, upon the shareholder’s resolution on 7 June 2023 and the approval of the board on 25 June.

The extraordinary general meeting (EGM) as well as the board of Al Yamamah Steel also announced that Raed Ibrahim Al Mudaiheem has been named as the Vice Chairman, according to a bourse disclosure.

The two officials are appointed for the three-year board term which started on 26 June this year and will remain in position until 26 June 2026.

It is worth noting that in the first half (H1) of fiscal year (FY) 2022/2023, the company turned to net losses after Zakat and tax of SAR 59.79 million versus a net profit amounting to SAR 69.17 million in the same H1 that ended in March 2022.