SARCO appoints Obaid Al Subaie as Chairman, Abdul Rahman Al-Mufarreh as CEO

Logo of Saudi Arabia Refineries Co. (SARCO)

Saudi Arabia Refineries Co.’s (SARCO) board of directors decided on Jan. 30 to appoint Obaid Saad Al Subaie as Chairman, and Abdulaziz AlBakr as Vice Chairman.

The board also appointed Abdul Rahman Al-Mufarreh as CEO, the company said in a statement on Tadawul.

Al Subaie and Al-Mufarreh will act as the company’s representatives before the Capital Market Authority (CMA).

SARCO statement indicated the approval of the formation of the nominations and remuneration committee for the new three-year session, which started on Jan. 25, 2024.

The committee includes Abdulaziz AlBakr as Chairman, and Fahd Al-Habardi and Khaled Hanaky as members.

In a separate statement, the company announced the board’s approval to form the audit committee for the new session, with the appointment of Mishal Al-Aqla as Chairman, Khaled Hanaky as independent member and Osama Al Sudais as a member from outside the board.