KHC appoints new board member

Kingdom Holding Co. (KHC) announced the resignation of board member (executive), Sarmad Zok, effective today, May 22, according to a bourse statement.

The company appointed Abdulmajeed Alhagbani, a non-executive director, to replace Zok until the end of the current board term -- June 4, 2024.

The appointment is pending the approval of the upcoming general meeting.

Alhagbani is currently the Senior Director- Head of MENA Securities Investments of the Public Investment Fund (PIF). He has held several positions at HSBC Saudi Arabia and Saudi Industrial Development Fund (SIDF).

He holds a bachelor's degree in finance from King Fahd University of Petroleum and Minerals, and has attended several courses in accounting, credit and financial analysis, risk analysis, and asset management.