Nayifat Finance Co. Announces the Resignation of Audit Committee Chairman
| Element List | Explanation |
|---|---|
| Introduction | Nayifat Finance Co. announces the resignation of Mr. Saad Abdulmohsen Abdulaziz AlHumaidi from the chairmanship and membership of the Audit Committee, due to his appointment as Chairman of the Board of Directors of Nayifat Finance Co., after obtaining the Non-objection of the Saudi Central Bank. |
| Element List | Explanation |
|---|---|
| Name of Resigning Member | Mr. Saad AbdulMohsen AbdulAziz AlHumaidi |
| Resignation Submission Date | 2024-06-06 Corresponding to 1445-11-29 |
| Resignation Effective Date | 2024-06-06 Corresponding to 1445-11-29 |
| Reasons for Resignation | Due to his appointment as Chairman of the Board of Directors of Nayifat Finance Co., after obtaining the Non-objection of the Saudi Central Bank.
This is based on the Corporate Governance Regulations issued by the Capital Market Authority regarding what is stated in Article Forty-Eight (paragraph C), which stipulates (The Chairman of the Board of Directors may not be a member of the Audit Committee, and may participate in the membership of other committees, provided that he does not occupy the position of Chairman in the committees stipulated in this Regulation). |
| Resigning Member Start Date | 2022-09-25 Corresponding to 1444-02-29 |
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