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08 May 04:03 AM

National Industrialization Co. Announces Resignation and Appointment of a CEO

Default Company 2060.O 0.00% 0.00 0.00
Element List Explanation
Introduction National Industrialization Company announces its Board of Directors resolution dated 6 March 2024G corresponding to 25 Shaaban 1445H, to accept the resignation of Eng. Mutlaq Hamad AL-Morished from his position as CEO of the Company to retirement. The resignation will be effective from 31 March 2024G corresponding to 21 Ramadan 1445H.

The Board and all the Company’s employees would like to express their sincere gratitude and appreciation to Eng. Mutlaq AL-Morished for his role and exceptional efforts in improving the performance of the Company during his presidency, wishing him all the best of luck and success.

The Board has also resolved to appoint Mr. Fawaz Mohammad Al-Fawaz as the CEO of the Company starting from 01 April 2024G corresponding to 22 Ramadan 1445H.

Element List Explanation
Name of the Resigned Person Eng. Mutlaq AL-Morished
Resignation Acceptance Date 2024-03-06 Corresponding to 1445-08-25
Resignation Effective Date 2024-03-31 Corresponding to 1445-09-21
Reasons for Resignation Retirement
Element List Explanation
Appointment Type Appointment
Name of the Appointed Person Mr. Fawaz Mohammed Al-Fawaz
Date of Board Resolution 2024-03-06 Corresponding to 1445-08-25
Date Work Commencement 2024-04-01 Corresponding to 1445-09-22
Brief Resume Mr. Al-Fawaz has over 30 years of experience in the Global petrochemical industry and worked as the Chief Financial Officer (CFO) for TASNEE since April 2015. Mr. Al-Fawaz holds a Bachelor’s degree in Accounting from King Saud University and has various post graduate certifications from leading international institutions in areas such as Strategic Finance, Merger & Acquisition, Corporate Risk & Governance and Leadership. He is also the chairman of the board for Saudi Logistics Company (SAL), and a board member of Saudi Chemical Holding Company and Industrialization and Energy Services Company (TAQA).

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