Logo of Tourism Enterprise Co.
Tourism Enterprise Co. (Shams) announced that an appeal court ruling was issued in its favor, dismissing the SAR 4.9 million compensation case filed against it by Abdul Hamid Al-Tareef, former board member and Chief Executive Officer (CEO).
The company said in a bourse filing that it received the judgment deed from the company's external lawyer on Dec. 20.
The company announced in July, 2021 that Dammam Labor Court issued a preliminary ruling against it in the labor case filed by Al-Tareef, according to data compiled by Argaam.
A lawsuit was filed against the firm to demand the payment of salaries and allowances for the remaining term, at a total value of SAR 10.3 million. The court ordered the company to compensate the plaintiff for the termination of services with an amount of SAR 4.9 million.
In June 2018, the company's board of directors suspended Al-Tareef from work, and deprived him of his capabilities, as he was being investigated as regards an alleged case of irregularities. In addition, the firm appointed Zahid Bin Zakir Legal Group as an attorney and legal advisor to investigate such irregularities.
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