Sadr Logistics Co. Announces Resignation and Appointment of a Board Member
| Element List | Explanation |
|---|---|
| Introduction | SADR Logistics Services Company announces the resignation of the Board Member, Eng. Khalid bin Suleiman Al-Mudayfer (Independent Member), who submitted his resignation on Wednesday, 31 December 2025, due to the length of his Board membership, which entails the loss of the independence status and the applicability of one of the circumstances affecting independence, thereby affecting the minimum required level of independence of the Board members.
The Board of Directors approved the resignation on 31 December 2025, to be effective at the end of the working day on Wednesday, 31 December 2025.
On this occasion, the Chairman and Members of the Board would like to extend their sincere thanks and appreciation to Eng. Khalid Al-Mudayfer for his outstanding efforts and valuable contributions during his membership on the Board, wishing him continued success.
The Board of Directors of SADR Logistics Services Company has also resolved to appoint Mr. Yazid Hussam Al-Hayyaf (Member of the Audit Committee and Member of the Remuneration and Nominations Committee) as a Board Member (Independent), to complete the current Board term ending on 15 September 2028. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Eng. Khalid Suleiman Al-Mudayfer |
| Membership Type | Independent |
| Resignation Submission Date | 2025-12-31 Corresponding to 1447-07-11 |
| Resignation Effective Date | 2025-12-31 Corresponding to 1447-07-11 |
| Membership Starting Date for the Resigned Member | 2024-09-16 Corresponding to 1446-03-13 |
| Reasons of Resignation | This is due to the length of his Board membership, which results in the loss of his independence status and the application of one of the independence-impairing conditions, thereby affecting the minimum required level of independence of the Board members. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Yazid Hussam Abdullah Al-Hayyaf |
| Membership Type | Independent |
| Membership Start Date | 2026-01-01 Corresponding to 1447-07-12 |
| Brief Resume of the Appointed Member | Yazid Hussam Abdullah Al-Hayyaf holds a Master’s degree in Accounting and a Master of Business Administration from Southern Utah University, and he holds several professional designations, most notably CPA and SOCPA, in addition to specialized certifications in business valuation and professional certifications from the Capital Market Authority, and he has extensive experience exceeding 18 years in senior financial leadership roles during which he served as Chief Financial Officer in a number of major companies and as a co-founding partner of Osoulna Professional Consulting, in addition to his membership in several committees and boards of directors. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2025-12-31 Corresponding to 1447-07-11 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
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