Al Jouf Cement committed to financial review since listing until mid-2022: CEO

Al Jouf Cement CEO Abdulkarim Al Nuhayer

Al Jouf Cement Co. and its board of directors are keen to review all company files since its listing in 2010 until mid-2022 in collaboration with an external audit office, said Managing Director and CEO Abdulkarim Al Nuhayer in an interview with Asharq News.

Al Nuhayer stressed that the company maintains communication with relevant authorities, including the Capital Market Authority (CMA) and the auditor, which undertook all procedures and audits related to investment in Eastern Industrial Co. (EICO).

All procedures will become clear after the general assembly votes, he added.

Al Jouf Cement recently implemented various measures to ensure governance, including the alteration of internal control management and re-establishment of a robust new system. This included changes to all policies and procedures related to governance to ensure the absence of irregularities.

According to data available on Argaam, the company’s board of directors decided to submit a recommendation to the company’s general assembly to vote on authorizing its management to file a liability suit against three former board members who were directly involved in the decision to invest in EICO.