United International Transportation Co. (Budget Saudi) Announces the Resignation of an Audit Committee Member and the Appointment of Another Member
- Date: 16-May-2022
- Source: Mubasher
- Sector:Transport
- Country:Saudi Arabia
United International Transportation Co. (Budget Saudi) Announces the Resignation of an Audit Committee Member and the Appointment of Another Member
|Element List||Explanation|
|Introduction|| United International Transportation Company (Budget Saudi) announces that, on 15/05/2022, the member of the Audit Committee Eng. Khalid Abdullah Al-Dabal (Non-Executive Board Member) has resigned effective as of that date.
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The Board of Directors appointed Eng. Ahmed Abdullatif Al-Barrak (Independent Board Member) instead of the resigned member. The Board Approval is not Final, and it will be presented to the next General Assembly meeting for Approval.
|Element List||Explanation|
|Name of Resigning Member||Eng. Khalid Abdullah Al-Dabal|
|Resignation Submission Date||2022-05-15 Corresponding to 1443-10-14|
|Resignation Effective Date||2022-05-15 Corresponding to 1443-10-14|
|Reasons for Resignation|| To comply with the governance requirements regarding the formation of the audit committee,
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Due to the transformation of his membership status from an independent board member to a non-executive board member, as he spent nine consecutive years as a member of the company’s board of directors
|Resigning Member Start Date||2021-06-21 Corresponding to 1442-11-11|
|Element List||Explanation|
|Appointed Member Name||Eng. Ahmed Abdullatif Al-Barrak|
|Membership Start Date||2022-05-15 Corresponding to 1443-10-14|
|Brief Resume of the Appointed Member||Eng. Ahmed bin Abdullatif Al-Barrak obtained a bachelor’s degree in Systems Engineering, and a Master’s in Business Administration for Executives, and has extensive experience in management, supervision and boards of directors in private sector companies.|
|Element List||Explanation|
|Date of Board Meeting in which Appointed New Member(s) were Appointed||2022-05-15 Corresponding to