SIDC reappoints Abdulelah Al-Asakir as Chairman, Bandar Alhomaidhi as MD

Logo of Saudi Industrial Development Co.

Saudi Industrial Development Co.’s (SIDC) board of directors reappointed Abdulelah Al-Asakir (non-executive member) as the Board Chairman for the three-year term, started on Jan. 1, 2022, the company said in a bourse statement.

The board also appointed Bandar Alhomaidhi (executive member) as Deputy Chairman and Managing Director (MD) for the same term.

Meanwhile, the company’s board formed the remunerations & nominations committee in accordance with the work regulations of the committee approved by the ordinary general assembly meeting (OGM) held on Dec. 28, 2017.

The board also appointed the secretary of the board of directors and representatives to represent the company at the Capital Market Authority (CMA) and the Saudi Tadawul Group for all purposes related to complying with the Capital Market Law and its Implementing Regulations.

The company noted that OGM held on Nov. 28, 2021, approved the formation of the audit committee, defining its tasks, working rules, and remuneration of its members for the above term.