Logo of Saudi Arabia Refineries Co. (SARCO)
Saudi Arabia Refineries Co.’s (SARCO) board of directors approved the resignation of independent member Aiad Mohammad Mushaikh, effective as of Oct. 3, according to a statement to Tadawul.
The resignation followed the irregularity of the board meeting held on Sept. 30, 2023, and the related decisions, the statement added.
The board of directors approved on Sept. 30 to terminate the contract of CEO Khalid Al-Qazlan, effective from the approval date, and Osama Baaj, who is currently the Financial Director, was appointed as Acting CEO.
Meanwhile, the board greenlit the appointment of Prince Mohammed bin Khalid Al Saud (non-executive) as Chairman and Yasser Al-Aqeel (independent) as Vice Chairman, Argaam reported.
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