Abdullah Al Othaim Markets Co. — Board/Management Information 2021

Nov 21, 2021

Abdullah Al Othaim Markets Co. Announces the Resignation and Delegation of CEO.

4001 · 21/11/2021 09:22:44 · Announcement #65707 · View on Saudi Exchange

Abdullah Al Othaim Markets Co. Announces the Resignation and Delegation of CEO.

Element List	Explanation
Introduction	Abdullah Al-Othaim Markets Company "the company" announces its board of directors approval the acceptance of the resignation submitted by the company’s CEO Mr. Mohsen Saqer Hussein from the position of CEO, due to family circumstances that require his continuous presence outside the Kingdom, the Board of Directors will use the expertise of Mr. Mohsen as an advisor to the Board of Directors

The Board of Directors also based on the recommendation of the Remunerations and Nomination Committee, decided the approval of the appointment of the Mr. Muwaffaq Mansour Jamal (Independent Board Member) as delegated CEO of the company, and change his membership in the board of directors as an executive member, where he will join to Abdullah Al-Othaim Markets Company on 21/11/2021 G, and he will start his work as A Delegated CEO from the effective date of the resignation of the current CEO on 17/12/2021G, to ensures a smooth transition of tasks.

In this regard, the Board of Directors expressed its sincere thanks and appreciation to the Mr. Mohsen Saqer Hussein for his efforts during the period in which he assumed the position of CEO of the company, wishing him the success as an advisor to the Board of Directors

Also the Board of Directors wishing to Mr. Muwaffaq Mansour Jamal success in his new position as a delegated CEO of the company.

Element List	Explanation
Name of the Resigned CEO	Mohsen Saqer Hussein
Resignation Acceptance Date	2021-11-20 Corresponding to 1443-04-15
Resignation Effective Date	2021-12-17 Corresponding to 1443-05-13
Reasons for Resignation	Due his family circumstances that require his constant presence outside the Kingdom

Element List	Explanation
Appointment Type	Delegation
Name of the CEO	Muwaffaq Mansour Jamal
Date of Board Resolution	2021-11-20 Corresponding to 1443-04-15
Date Work Commencement	2021-12-17 Corresponding to 1443-05-13
Brief Resume	It is worth mentioning that Mr. Muwaffaq Mansour Jamal a holds a Bachelor's degree in Accounting Sciences from King Fahd Petroleum and Minerals University, Kingdom of Saudi Arabia - in the year 1992 G.

He e has accumulated experience more than (30) years in the business sector, in which he occupied a leadership positions in international and local companies, as well as membership of boards of directors in several sectors, including the retail sector.

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