Riyadh - Mubasher: The Saudi Industrial Development Company (SIDC) announced today, Thursday, the appointment of the Chairman of the Board of Directors, the Vice Chairman, the Managing Director, and the Remuneration and Nominations Committee, during the Board of Directors meeting yesterday, Wednesday.

The company said in a statement on Tadawul that it was decided to appoint Abdul-Ilah bin Mohammed bin Abdul-Rahman Al-Asaker (non-executive member) as Chairman of the Board of Directors, and to appoint Bandar bin Abdullah bin Ibrahim Al-Humaidhi (executive member) as Vice Chairman of the Board of Directors and Managing Director, with him being assigned the duties of the CEO.

The Board of Directors of the Company decided to form the Remuneration and Nominations Committee in accordance with the approved tasks and powers, and to appoint the Secretary of the Board of Directors and the Company’s representatives to the Capital Market Authority, the Saudi Tadawul Group, and the Securities Depository Center Company (Edaa) for all purposes related to the implementation of the Capital Market Law and its executive regulations.

The Company’s Ordinary General Assembly, held on June 13, 2024, elected the members of the Company’s Board of Directors for its new term, starting from January 1, 2025, for a period of three years ending on December 31, 2027.