Al Sagr shareholders reject amendment to corporate governance charter

Logo of Al Sagr Cooperative Insurance Co. 

Al Sagr Cooperative Insurance Co.’s shareholders rejected a proposed amendment to the company’s governance charter during a general meeting on Jan. 29. However, they approved the remaining items on the agenda, according to a statement to Tadawul.

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Among the approved items was an amendment to the policy governing the remuneration of board members, subcommittees, and executive management. Shareholders also approved the charters of risk committee and nomination and remuneration committee, as well as the revised audit committee charter.

Moreover, both the investment committee and the executive committee charters were approved, as well as the competition and standards policy.