Savola Group — Board/Management Information 2025

Jul 1, 2025

The Savola Group Announces the Appointment of the Chairman, Vice Chairman, and Committees Formation

2050 · 01/07/2025 08:00:19 · Announcement #88511 · View on Saudi Exchange

The Savola Group Announces the Appointment of the Chairman, Vice Chairman, and Committees Formation

Element List

Explanation

Announcement Detail

With reference to the election of the new Board of Directors for Savola Group (Savola) by the Company’s General Assembly for the new office term that will commence as of 01/07/2025 for a period of four Gregorian years ending on 30/06/2029. The Savola Group announces the decision of its Board of Directors for the new office term related to the appointment of the Chairman, Vice-Chairman, Board Secretary and the formation of committees to be effective as of 01/07/2025, as follows:

First: The appointment of Mr. Sulaiman A. Al Muhaidib as the Chairman of the Board (Non-executive), Mr. Bader A. Alissa as the Vice Chairman of the Board (Non-executive) and Mr. Elnour Ali Saad as the Board Secretary (Chief of Corporate Governance, Compliance and Legal Affairs Officer). This resolution is effective as of 01/07/2025.

Sconed: Formation of the Remuneration and Nomination Committee from the following members:

1) Mr. Rakan A. Al Fadl (Independent Board Member) as the Chairman of the Committee.

2) Mr. Bader A. Alissa (Non-executive Board Member) as a member.

3) Mr. Bader H. Al Rabiah (Independent Board Member) as a member.

4) Mr. Basel M. Binjabr (Independent Board Member) as a member.

5) Mr. Johan Brand (external expert) as a member.

Third: Formation of the Investment Committee from the following members:

1) Eng. Mutaz Q. AlAzzawi (Non-executive Board Member) as the Chairman of the Committee.

2) Mr. Bader A. Alissa (Non-executive Board Member) as a member.

3) Mr. Isam M. Al Muhaidib (Non-executive Board Member) as a member.

4) Mr. Ahmad A. Al Humaidan (Independent Board Member) as a member.

5) Mr. Waled A.Ghreri (Independent Board Member) as a member.

It is worth mentioning that the Board of Directors has also formed the Audit Committee for the new office term, which will be announced separately in line with the disclosure requirement in this regard. Noting that, the Board of Directors’ resolution to form the above Committees, including the Audit Committee, is taking effect as of 01/07/2025, and that the office term of these Committees will coincide with the term of the Board of Directors, which is four years i.e. will end on 30/06/2029.

In this respect, the Board expressed its sincere gratitude to the members whose terms on the Board and its Committees had concluded, acknowledging their valuable contributions, collaboration and wishing them all the best and success in all future endeavors.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.