The Savola Group announces the appointment of a member in its Audit Committee
Savola Group announces the approval of its Board of Directors dated 11th February 2018 to the recommendation of the Remuneration and Nomination Committee (RNC) to appoint Dr. Ammr Bin Khaled Kurdi as a member in the Audit Committee of the Savola Group (as an independent member from outside the Board) effective from the date of the Board approval mentioned above until the end of the current office term of the committee, which ends in June 30th, 2019.
The appointment of Dr. Kurdi comes in the vacant seat after the resignation of Mr. Khalid Mohammed Al-Sulaia from the Audit Committee on October 29, 2017 after being appointed as a member of the Board of the Capital Market Authority (CMA).
It is worth mentioning that Dr. Kurdi holds a Bachelor's degree in Accounting from King Fahad University of Petroleum and Minerals in 2001, and a Master's degree in Accounting from the University of Arizona (AZ, USA), in 2004, and a Ph.D. in Accounting degree from the University of North Texas (TX, USA), in 2010. He has also completed an Executive Program in Internal Auditing from Harvard Business School, and he is a Certified Management Accountant (CMA), by the Institute of Management Accountants (IMA), NJ, USA. Dr. Kurdi also has extensive experience in a number of areas, including Accounting, Auditing, Financial Management, Corporate Governance, and Risk Management.
Dr. Kurdi is currently the Chief Financial Officer of Saudi Arabian Amiantit Company, and a member of the Audit Committee in a number of joint stock companies. The said appointment is not final and will be presented to the nearest General Shareholders Assembly Meeting for approval as per regulation.
In this regard the Board expresses its sincere thanks and appreciation to Mr. Khaled AlSulaia for his valuable efforts during the period of his membership in the Audit Committee of the Savola Group, and wishes Dr. Kurdi all the success in fulfilling his responsibilities as a member of Audit Committee.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.