Wafrah board appoints MD, reshuffles committees

Logo of Wafrah for Industry and Development Co.

Wafrah for Industry and Development Co. appointed Mohammad Almuzel as Managing Director (MD) effective July 22, through the end of the current board term on Jan. 13, 2027. In addition to ending the assignment of Acting CEO Abdullah Al-Shehri.

In a Tadawul filing, the company said the board also restructured the audit, remuneration and nominations, and executive committees on the same date, with terms run through Jan. 13, 2027.

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The audit committee previously included Almuzel as Chairman, along with Abdullah Al-Hamood and Saad Al-Sunaidi. After the reshuffle, the members are Mohammad Alotaibi as Chairman, Badr Al-Fadda, and Abdullah Al-Hamood.

The remuneration and nominations committee formerly included Alotaibi as Chairman, Al-Fadda, and Almuzel. It now consists of Majed Alghufaili as Chairman, Al-Fadda, and Alotaibi.

The executive committee initially included Saad Alotaibi as Chairman, Mohammad Al Mukhadeb, and Eyad Albunaian. It now includes Mohammad Al Mukhadeb as Chairman, Albunaian, and Alghufaili.

The board also dissolved the investment committee and merged its duties into the executive committee.