Yanbu Cement Co. — Board/Management Information 2021

Mar 28, 2021

Yanbu Cement Co. Announces the resignation of its CEO and appointment of a new CEO

3060 · 28/03/2021 08:45:52 · Announcement #62440 · View on Saudi Exchange

Yanbu Cement Co. Announces the resignation of its CEO and appointment of a new CEO

Element List	Explanation
Introduction	Yanbu Cement Co. announces its Board of Directors acceptance of the resignation of the CEO of the company Dr. Ahmed bin Abdo Zugail, due to his personal reasons. His resignation will take effect as of 27-03-2021.

The Board of Directors also decided in the same meeting held on 27-03-2021 corresponding to 14-08-1442 to appoint a member of the Board of Directors, Mr. Ali bin Abdullah Al-Ayed, as the CEO of the company effective on 27-03-2021.

Element List	Explanation
Name of the Resigned CEO	Dr. Ahmed bin Abdo Zugail
Resignation Acceptance Date	2021-03-27 Corresponding to 1442-08-14
Resignation Effective Date	2021-03-27 Corresponding to 1442-08-14
Reasons for Resignation	Personal reasons

Element List	Explanation
Appointment Type	Appointment
Name of the CEO	Mr. Ali bin Abdullah Al-Ayed
Date of Board Resolution	2021-03-27 Corresponding to 1442-08-14
Date Work Commencement	2021-03-27 Corresponding to 1442-08-14
Brief Resume	It is worth mentioning that Mr. Ali bin Abdullah Al-Ayed has over (30) years of experience in the industry and administration sector through his holding of a number of leadership positions. Most recently, he held the position of CEO of The Saudi Technology Development and Investment Company. Prior to that, he worked in the Saudi Industrial Development Fund from 1979 until he became its director from 2010 to 2014. He also served as a member of several boards of directors.

Mr. Ali Al-Ayed graduated with a Bachelor's degree in Industrial Management from King Fahd University of Petroleum and Minerals.

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