Gulf General’s shareholders approve appointment of 2 audit committee members

Gulf General Cooperative Insurance Co.'s shareholders approved 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) held on Feb. 13.

The insurer said in a statement on Tadawul that shareholders ratified 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 agreed 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.