Savola reappoints Sulaiman Al Muhaidib as chairman, names Bader Alissa deputy chairman

Logo of Savola Group

The Savola Group's board of directors re-appointed Sulaiman A. Al Muhaidib as Non-Executive Chairman, and appointed Bader A. Alissa as Non-Executive Vice Chairman and Elnour Ali Saad as Board Secretary, according to a bourse filing.

The board also approved the formation of the Remuneration and Nomination Committee from the following members:

1. Rakan A. Al Fadl (Independent Board Member) as chairman.

2. Bader A. Al Issa (Non-executive Board Member) as a member.

3. Ahmed Waza Al Qahtani (Non-executive Board Member) as a member.

4. Bader Hamad Al Rabiah (Independent Board Member) as a member.

5. Johan Brand (external expert) as a committee member.

It also approved the formation of the Investment Committee as follows:

1. Mutaz Q. Alazawi (Non-executive Board Member) as chairman.

2. Ahmed A. Al Humaidan (Non-executive Board Member) as a member.

3. Mohammad I. Alissa (Independent Board Member) as a member.

4. Isam M. Al Muhaidib (Non-executive Board Member) as a member.

5. Waled A. Al Ghreri (Independent Board Member) as a member.

The group had previously announced in Tadawul the formation of the Audit Committee membership that was approved by the general assembly meeting held on May 15. The Audit Committee new office term will commence as of October 1, 2022.