Savola Group — Board/Management Information 2010

Sep 25, 2010

The Savola Group Announces the Appointment of a New Board Member

2050 · 25/09/2010 09:06:58 · Announcement #19084 · View on Saudi Exchange

The Savola Group Announces the Appointment of a New Board Member

The Savola Group announces that its Board of directors appointed, with immediate effect, H.E. Eng. Abdullah Mohammad Nour Rehaimi as a Board member in the company representing the "the Public Investment Fund (PIF )" based on the Minister of Finance letter No. (10498 dated 26/9/1431H). Eng. Rehaimi will replace H.E. Eng. Adel M. Fakeih, PIF former representative in the Group Board of Directors, due to his appointment as the Minister of labor during the last month, as announced through Tadawul on 23rd August 2010. However, this appointment will be presented to the next Savola General Shareholders Assembly for ratification as per regulation.

It is worth-mentioning that Eng. A. Rehiami has served for more than 25 years in Saudi Industrial Development Fund (SIDF) where he assumed the role of Deputy General Manager. Currently, he appointed as President for General Authority of Civil Aviation (GACA). He also sits as board member in number of Saudi companies; one of it is the National Commercial Bank (NCB).

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