Mohammed Al Mojil Group appoints New Board Members

December 24, 2013 10:43 am

Mohammed Al Mojil Group announced the approval of the recommendations submitted to the Board of Directors by the Remunerations and Compensations Committee to appoint four new independent directors to fill the vacant positions.

This will take the Board from five members to nine members three of which are independent, eight non-executives and one executive.

The appointments, thus meeting the mandatory corporate governance and control requirements, are as follows:
1)Eng. Adel Al-Mojil (Chairman, non-independent and non-executive)
2)Dr. Suleiman Al-Samahi (independent and non-executive member)
3)Mr. Adel Al-Butairi (independent and non-executive member)
4)Mr. Osama As’ad (non-independent and non-executive member)
5)Mr. Stewart Macphail (non-independent and executive member)
6)Mr. Ibrahim Al-Muhaidib (non-independent and non-executive member)
7)Mr. Abdulaziz Al-Omairah (independent and non-executive member)
8)Mr. Mohammad al-Khaldi (non-independent and non-executive member)
9)Mr. Findlay Donnan (non-independent and non-executive member)

The newly appointed independent board members are as follows:
1-Mr. Ibrahim Al-Muhaidib
2-Mr. Abdulaziz Al-Omairah
3-Mr. Mohammad Al-Khaldi
4-Mr. Findlay Donnan.

The board has also approved the re-formation of the board subcommittees in light of the available expertise that the board members bring. The composition of the board subcommittees is as follows:
A) Audit Committee:
1)Mr. Adel Al-Butairi (chairman)
2)Mr. Osama As’ad (member)
3)Mr. Mohammad Al-Khaldi (member)

B) Remuneration & Compensation Committee:
1)Dr. Sulaiman Al-Samahi (chairman)
2)Mr. Osama As’ad (member)
3)Mr. Findlay Donnan (member)

The newly appointed independent members bring with them both variety and depth of experience that will help the Company and provide leadership in the best interest of the Company and shareholders too.

The Board now operates with full quorum and balanced representation comprising shareholders and executive management, which will provide stability to the Company given the shared commitment of all members to the Company. The new board members appointment is not final and will be submitted to the company next general meeting.

For media information contact:
Bashar Kharbat
Tel: +966 3 84494988
Fax: + 966 3 842 4147