Gulf General’s shareholders to vote on appointing 2 audit committee members on Feb. 13

Logo of Gulf General Cooperative Insurance Co.

Gulf General Cooperative Insurance Co.'s shareholders are set to vote on the board’s resolution to appoint non-board member Abdulraouf Banaja as an audit committee member for the current term ending on April 10, 2025, during the ordinary general meeting (OGM) slated for Feb. 13, the insurer said in a statement on Tadawul. 

Banaja will succeed former committee member Jawdat Alhalabi. This appointment is in accordance with the audit committee’s regulations, the statement added. 

Shareholders will also vote on increasing the number of audit committee seats from three to four seats. This is by appointing Ahmed Khogeer (independent member) as a member of the committee, starting from the assembly's approval date until the end of the current committee’s term. 

Meanwhile, they will vote on amending the Corporate Governance Regulations, Audit Committee Charter, Nomination and Remuneration Committee Charter, Risk Management Committee Charter and Remuneration and Compensation Policy for the board of directors, committees and executive management.