SAICO board decides to postpone CEO’s resignation date

14/12/2021 Argaam

Logo of Saudi Arabian Cooperative Insurance Co.

Saudi Arabian Cooperative Insurance Co.’s (SAICO) board of directors announced the postponement of CEO Hassan Abdullah Al-Somali’s resignation.

 

He will continue his work and carry out his duties until further notice, the company said in a bourse filing today, Dec. 14.

 

The board of directors reached an agreement with the CEO on Dec. 13, the statement noted.

 

There is no financial impact on the financial results.

 

In February, the company’s board had accepted the retirement request of Al-Somali as of Dec. 31, 2021.

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