Arabia Insurance Cooperative Co announces the resignation of the Chairman of the Board of Directors
| Element List | Explanation |
|---|---|
| Introduction | Arabia Insurance Cooperative Co. announces that the Board of Directors has approved via circulation on 16/04/1445H, 31/10/2023G, the resignation of Mr. Abdulaziz Abdulhadi Al Qahtani from the position as a member and the Chairman of the Board of Directors of the company, where it will take effect from 31/10/2023G. The reason for the resignation is due to his work engagements with a number of companies and investments inside and outside the kingdom.
The Board of Directors expressed its sincere thanks and appreciation to Mr. Abdulaziz Abdulhadi Al Qahtani for his outstanding performance and great and appreciated efforts during his tenure as the Chairman and member of the Board of Directors of the company and wished him continued progress and success. The company will announce any developments regarding the alternative candidate for the position of the chairman at the appropriate time, as well as the appointment of an alternate member to the vacant position, following approval from the Saudi Central Bank. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Mr. Abdulaziz Abdulhadi Al Qahtani |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2023-09-28 Corresponding to 1445-03-13 |
| Resignation Acceptance Date | 2023-10-31 Corresponding to 1445-04-16 |
| Resignation Effective Date | 2023-10-31 Corresponding to 1445-04-16 |
| Membership Starting Date for the Resigned Member | 2023-04-06 Corresponding to 1444-09-15 |
| Reasons of Resignation | The reason for the resignation is due to his work engagements with a number of companies and investments inside and outside the kingdom. |
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