Kingdom Holding holds board meeting

24/12/2017 07:56 AST

The Board of Directors for Kingdom Holding Company (KHC) conducted a scheduled board meeting last week at its headquarters in Riyadh.

The board meeting was attended by KHC board members Eng. Talal Almaiman, CEO, Sarmad Zok, executive director of hotel investments, Mohamed Fahmy, CFO, and non-executive board members Eng. Taher Agueel and Dr. Khaled Al-Saheem.

The board discussed the agenda items and decisions were taken as follows:
In accordance with the new Corporate Governance regulations issued by the Capital Market Authority on Feb. 13 2017, independent board member Dr. Khalid Abdullah Al-Souhem was appointed deputy chairman of the board of directors. The appointment is effective as of December 2017 through the end of the current board session on June 5, 2018.

The board accepted the resignation of Eng. Rasha Amer El-Hoshan (independent member), which was submitted on Sept. 28n 2017, and was effective as of Dec. 20, 2017. Eng. Rasha El-Hoshan resigned citing personal reasons. The board expressed its gratitude and appreciation to Eng. Rasha El-Hoshan for her service to KHC.

KHC will continue its dividend policy in the same manner.

KHC's CEO Eng. Talal Almaiman presented to the board the company's latest results and highlighted the ongoing successful strategy to further enhance the business and create premium value for shareholders. Eng. Almaiman concluded the meeting by thanking board members for their hard work and service to the company.


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