Development Works Food Co.’s board of directors approved the resignation of its Chief Executive Officer (CEO), Abdul Rahman N. Al-Asmari, submitted today, Sunday, due to personal reasons.
However, Al Asmari will remain a board member, the company said in a bourse filing.
The company’s board named Hisham Abdulrahman Muqrin, a board member, as the new CEO, effective June 8, 2020.
Muqrin has more than 20 years’ experience in the financial and management fields and has held several leading positions in different companies and banks.
In a separate statement, Development Works’ board also approved the resignation of board member, Saad sinaitan bin Hudaib, submitted on April 1, 2020, citing personal reasons.
The board appointed Musa bin Abdullah Al Fawzan as a new independent member, effective today, June 7.
Al Fawzan has more than 20 years’ experience in the management, marketing, and logistics fields and holds a master's degree in marketing.
The board’s recommendation will be put to the vote at the upcoming general meeting, the statement noted.
Meanwhile, the company’s board ratified the appointment of Mohammad Abdullah Al-Mubarak as audit committee member, replacing Ahmed Ibrahim Al Ajlah, based on nomination and remuneration committee’s recommendations.
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