SIIG appoints 2 new board members

Logo of Saudi Industrial Investment Group

Saudi Industrial Investment Group’s (SIIG) board of directors approved to appoint Ziyad Alshiha as an independent board member, effective as of today, April 13, according to a bourse filing. 

Based on the General Organization for Social Insurance’s (GOSI) request, SIIG’s board agreed to appoint Eyad Al Husain as GOSI’s representative on the company’s board of directors, replacing Thamer Al-Hamoud as of today. 

Alshiha holds a bachelor’s degree in electrical engineering from King Fahd University of Petroleum and Minerals, a master's degree in management information system from Rice University, and a master’s degree in executive business administration from the Massachusetts Institute of Technology (MIT). 

He held multiple positions in Saudi Aramco from 1984 to 2013 until he became one of its executives. Alshiha was a board member and then the CEO of Saudi Electricity Co. 

He was a board member in a number of companies, and is currently the CEO of the Saudi Investment Recycling Co. (SIRC), which is wholly owned by the Public Investment Fund (PIF). 

Meanwhile, Al Husain holds a bachelor’s degree in accounting from King Saud University and a master’s degree in commerce and finance from the University of Adelaide.  

He was the Chairman of National Medical Care Co. as well as a board member in a number of joint stock companies, including Saudi Hollandi Bank, Samba Financial Group and the National Petrochemical Co. (Petrochem). 

The appointment is pending the approval of the company's upcoming general assembly. 

The implementation agreement between SIIG and Petrochem entails making some changes to the former’s board of directors as set out in the shareholders’ circular issued by SIIG.