Logo of Amana Cooperative Insurance Co.
Amana Cooperative Insurance Co. announced today, Dec. 7, extending the assignment term of the acting Managing Director, Rasheed Nader, for six months.
In a statement to Tadawul, the company pointed out that the extension is effective as of Dec. 1, 2022, until May 31, 2023, adding that Nader’s membership capacity was amended to executive board member.
According to data compiled by Argaam, Amana Insurance’s board of directors decided on Nov. 7 to terminate Sulaiman Hilal’s contract as the company’s CEO.
The board member, Nader, took over as the acting Managing Director for one month, after obtaining all necessary official approvals.
He was granted all the CEO powers to carry out his duties, the statement added.
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