Arabian Drilling names Mohammed Al-Dawood Chairman, Jesus Lamas Vice Chair

Logo of Arabian Drilling Co.

Arabian Drilling Co. said its board appointed Mohammed Bin Nasser Al-Dawood as Chairman and Jesus Lamas Rios as Vice-Chairman on Nov. 6, according to a statement to Tadawul.

The board also formed the nomination and remuneration committee, which included Adnan Ghabris, Mohammed Al-Dawood, Tarek Rizk, and Moutaz Mashhour.

It further formed the executive committee, which comprised Mohammed Al-Dawood, Tarek Rizk, Jesus Lamas Rios, Omar Al-Husseini, and Adel Al-Ghadhban.

The board also decided to form the audit committee for the new term, which will be announced separately in accordance with disclosure requirements.

Additionally, a board secretary was appointed, and the company’s representatives to the Capital Market Authority (CMA), the Saudi Exchange (Tadawul), and the Securities Depository Center Company (Edaa) were named.

Arabian Drilling’s board on Sept. 27 recommended early termination of its current term, which commenced on Nov. 1, 2021, and was scheduled to end on Nov. 2, 2026, data compiled by Argaam showed.

In October, the company’s shareholders approved ending the current board’s term, which will expire on Nov. 1, 2025, and ratified the election of new board members for the next four-year term, starting Nov. 2.