Thursday, 01st July 2021

Saudi Cement Co. Announces Resignation and Appointment of a Board Member.

Introduction Saudi Cement Company announces the Board of Directors’ resolution to approve the recommendation of the Nominations & Remunerations Committee to accept the resignation of the board member, Dr. Mohammad Sulaiman Balghonaim, and to appoint Mr. Mansour Mohammed Balghonaim as a member of the board to complete the term of his predecessor for the remainder of the current Board term which ends on 31-Dec-2021.

The Board of Directors extends its appreciation and gratitude to Dr. Mohammad Balghonaim for his efforts during his directorship terms and his previous tenures as Chairman of the Audit Committee and Chairman of the Nominations & Remunerations committee and wishing him continued wellness and happiness

Resigned Member Name Dr. Mohammad Sulaiman Balghonaim
Membership Type Non- Executive
Resignation Submission Date 2021-06-28 Corresponding to 1442-11-18
Resignation Acceptance Date 2021-06-30 Corresponding to 1442-11-20
Resignation Effective Date 2021-06-30 Corresponding to 1442-11-20
Membership Starting Date for the Resigned Member 2019-01-01 Corresponding to 1440-04-25
Reasons of Resignation Personal reasons
Appointed Member Name Mr. Mansour Mohammed Balghonaim
Membership Type Independent
Membership Start Date 2021-06-30 Corresponding to 1442-11-20
Brief Resume of the Appointed Member Mr. Mansour Blaghonaim has about16 years working experience in banking field and currently as Head of Business development Wholesale Banking in Gulf International Bank. Also, he has 4 years’ experience in Power and Telecom field. Mr. Mansour holds bachelor’s degree in finance from King Saud University.
Date of Board Meeting in which Appointed New Member(s) were Appointed 2021-06-30 Corresponding to 1442-11-20
Board Approval Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval.