Saudi Cement elects board members for upcoming term

Logo of Saudi Cement Co.

Saudi Cement Co.’s shareholders elected board members for the upcoming three-year term, starting Jan. 1, 2022, and ending on Dec. 31, 2024, during the ordinary general assembly meeting (OGM) held on Nov. 24, according to a bourse filing.

The new board includes Khalid bin Abdul Rahman Al-Rajhi, Mohammed Abdulkarim Al Khereiji, Khalid Alabdulkarim, Amin Musa Al-Afifi, Hamad Al Olayan, Abdulrahman S. Al Rajhi, Mubarak Jaber AlMuhimead, Mohammed Ali AlGarni, Mansour M. Balghonaim, Saleh Mohammed AlMohana and Hala Walid Al Juffali.

Shareholders also approved the formation of the audit committee, defined its duties, charter and the remunerations of its members for the same term.

The audit committee comprises Hamad AlOlayan (non-executive), Mansour Balghonaim (independent) and Ahmad Abdullah Al-Meghames (member from outside the board).

Meanwhile, they ratified the board’s recommendation to appoint Mansour Mohammed Balghonaim as an independent member to complete the board term from the date of his appointment, on June 20, 2021, until the end of the current term on Dec. 31, 2021, to succeed resigning member Mohammad Sulaiman Balghonaim (non-executive).