Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) announced the resignation of independent board member Sultan bin Saleh Al Khomshi, effective 2 August 2026.

The company stated that Al Khomshi stepped down due to increasing professional commitments and work obligations. He had served on the board since the start of the current term on 12 November 2024.

The board of directors approved the appointment of Abdullah bin Ahmed Abu Diab as an independent member to fill the vacancy for the remainder of the current board term, which concludes on 11 November 2028.

Abu Diab brings over 20 years of professional experience in executive management, technology, and operations. He has served as the CEO of Qabas Technical Trading Company since 2009 and previously held leadership roles at Saudi Telecom Company and the Company for Cooperative Insurance.

The appointment remains subject to shareholder approval at the company's next General Assembly meeting.

Chemanol expressed its appreciation for Al Khomshi’s contributions during his tenure.

In the first quarter (Q1) of 2026, Chemanol incurred a net loss of SAR 46.36 million, an annual jump of 3.81% from SAR 44.66 million.