Riyadh Development reappoints bin Ayyaf as Chairman, Al-Muajil Vice Chairman

Logo of Riyadh Development Co. (ARDCO)

Riyadh Development Co.’s (ARDCO) board of directors reappointed, on July 2, Prince Faisal bin Ayyaf as Chairman and Ibrahim Al-Muajil as Vice Chairman, according to a Tadawul filing.

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The board also appointed the board secretary, effective from July 2, 2025.

During the meeting, board members formed the nominations and remuneration committee, including Abdulrahman Al-Qahtani as Chairman, as well as Osama Al-Awaidi and Fahd Al-Zahrani as members.

They also named members of the executive committee, consisting from Majed Alsubeaei (Chairman), as well as Ibrahim Al-Muajjil and Nayef Al-Hadithi (members).

Meanwhile, the board appointed the company's representatives before the Capital Market Authority (CMA), the Saudi Exchange (Tadawul), and the Securities Depository Center (Edaa) for all purposes related to the implementation of the Capital Market Law and its Implementing Regulations.

In a separate statement, the company said that the board formed the audit committee for its new term, which will start its work as of July 2, 2025, for a period of four years.

The audit committee includes Suleiman Al Hatlan (Chairman), as well as Yazid Al-Jard, Ahmed Al-Kanhal, and Saleh Al-Khalaf as members.