Southern Cement says PIF requests change of 2 board members

Southern Province Cement Co. received a letter, on June 1, from the Public Investment Fund (PIF) requesting a change of its two representatives on the company’s board of directors, according to a bourse filing.

Saad Al-Kroud and Ahmed Al-Ghamdi (non-executive members) were named representatives of the PIF on the board of directors, starting from June 01, 2022, until the end of the current board session on Dec. 31, 2023.

They replace Abdullah Al-Qaed and Majid Al-Assaf (non-executive members), whose membership on the board began on Jan. 1, 2021, and ended on May 31, 2022.

Southern Cement’s board of directors approved by passing the PIF request on June 2. The new appointments will be presented to the upcoming general assembly for approval.