The Board of Directors for Kingdom Holding Company (KHC) conducted a scheduled Board Meeting on Wednesday, December 20th 2017 at its headquarters in Riyadh.
The Board Meeting was attended by KHC Board members Eng. Talal Almaiman, Chief Executive Officer, Mr. Sarmad Zok, Executive Director of Hotel Investments, Mr. Mohamed Fahmy, the Chief Financial Officer, 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 Board on February 13th 2017, Independent Board member Dr. Khalid Abdullah Al-Souhem has been 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 5th, 2018.
- The Board accepted the resignation of Eng. Rasha Amer El-Hoshan (independent member) which was submitted on September 28th 2017, and was effective as of December 20th 2017. Eng. Rasha El-Hoshan is resigning due to personal reasons. The Board expressed their 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.