Riyadh – Mubasher: ASG Plastic Factory Company has announced the formation of its Nominations and Remunerations Committee following a Board of Directors resolution passed on 1 July 2026.

The establishment of the committee is designed to align the company’s internal governance with the regulatory requirements set forth by the Capital Market Authority (CMA), specifically adhering to Articles 58 and 62 of the Corporate Governance Regulations, according to a bourse filing.

The committee will operate for the remainder of the current board term that is scheduled to conclude on 2 December 2027.

The newly formed committee is tasked with overseeing the selection process for board members and senior executives, as well as developing policies related to compensation and benefits.

By formalizing this body, ASG Plastic aims to enhance transparency and ensure that its leadership structure remains robust and compliant with Saudi Arabian market standards.

The board has appointed Mohammed Walid Saleh Al Numi to serve as the Chairman of the Nominations and Remunerations Committee.

Al Numi serves as an independent director on the board and brings a specialized legal and compliance background to the role. A law graduate from King Saud University, he holds professional certifications including the Governance, Risk, and Compliance Professional (GRCP) and Certified Compliance Officer (CCO) designations.

His professional history includes serving as a compliance officer at the Saudi Finance Company and as a legal consultant at Thiqah Law Firm.

Since 2025, Al Numi has held the position of Director of Consulting and Monitoring at Najm for Insurance Services.

Joining the committee as a member is Othman Abdullah Othman Al Othman, who currently serves as the Non-Executive Chairman of the Board.

Al Othman possesses over two decades of experience in safety, security, and human resources management. His career includes a long tenure with the Civil Defense from 1995 to 2016, followed by several leadership roles within ASG Plastic where he served as Human Resources Manager and later as General Manager. He is currently the General Manager of Asq Pipes Company.

The third member of the committee is Sarah Naif Abdulaziz Al Madi, who joins as an external member from outside the board.

Al Madi is a legal specialist and certified notary currently working with Asq Pipes Company. A graduate of Majmaah University with a degree in law, she brings technical expertise in legal research, contract drafting, and the preparation of judicial memorandums and regulations. Her inclusion as an external member provides the committee with additional technical legal oversight.

The committee’s mandate will begin immediately upon the approval of the board’s decision. Its primary focus will involve evaluating the skills and qualifications required for board membership and ensuring that the company’s remuneration policies are sufficient to attract and retain high-caliber talent without creating conflicts of interest.

At the beginning of July 2026, the board of directors also passed the formation of an Audit Committee to conclude in 2027.