Tourism Enterprise Company (Shams) announced on July 19, 2026 the results of its Ordinary General Assembly Meeting (First Meeting), held on July 16, 2026 at 7:00 PM at Palm Beach Resort in Al-Khobar, with shareholder attendance representing 41.3% of the company's capital. The assembly approved the dismissal of the current Board of Directors, following a request submitted by shareholders holding 10.04% of the company's capital, citing below-expectation financial and operational results, accumulated losses, and failure to optimally utilize company resources. Consequently, a new seven-member Board of Directors was elected for a four-year term commencing July 17, 2026 and ending July 16, 2030, comprising Dr. Saif bin Fahd Al-Harbi, Mr. Majed bin Nawwar Al-Otaibi, Mr. Fares bin Abdulrahman Al-Fares, Mr. Nasser bin Khalaf Al-Barrak, Dr. Sarah bint Fahd Al-Subaie, Mr. Khaled bin Mohammed Al-Qazlan, and Dr. Fawaz bin Abdul-Sattar Al-Alami.

Original announcement:

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