The General Assembly of First Saudi Bank approves the election of a new Board of Directors
The General Assembly of the First Saudi Bank approved the election of members of the Board of Directors for the next session, which begins on January 1 and ends on December 31, 2028.
According to the results of the Ordinary General Assembly meeting (the first meeting), which were stated in the First Saudi Bank’s statement on the First Saudi Bank’s website "Saudi Arabia trading"The composition of the board included: Lubna Al-Olayan, Muhammad Al-Omran, Saad Al-Fadhli, Ahmed Al-Awlaki, Sulaiman Al-Quwaiz, Martin Powell, Stuart Gulliver, and Muhammad Al-Maraj.
She explained that the composition of the Board of Directors of the new First Saudi Bank for its next session consists of the members mentioned above, in addition to the members appointed by the shareholder, Hong Kong and Shanghai Banking Holding Company (B.V.), who were appointed by the company in accordance with Article (17) of the bank’s regulations. The main members are: Anthony Krebs, Samir Assaf, and Surendranath Ravi Rocha.
The results included: approval of amending the work regulations of the Audit Committee, and approval of amending the work regulations of the Nominations and Remuneration Committee.
The results included: approval of amending the rewards and compensation policy for members of the Board of Directors, committees, and executive management.
The results included: approval of amending the nomination and selection policy for members of the Board of Directors and its committees, and approval On the criteria for participating in the bank’s competing businesses.
The results included: approval to delegate the authority of the Ordinary General Assembly with the authorization contained in Paragraph (1) of Article 27 of the Companies Law to the Board of Directors, whose session will begin on January 1, 2026 AD until the end of the second quarter of the fiscal year 2026 AD, in accordance with the conditions contained in the executive regulations of the Companies Law for listed joint stock companies.
The results included: approval to delegate the authority to the Ordinary General Assembly with the authorization contained in the paragraph. (2) of Article 27 of the Companies Law, for the Board of Directors, whose session will begin on January 1, 2026 AD until the end of the second quarter of the fiscal year 2026 AD, based on the criteria for participation in the bank’s competitive business approved by the General Assembly.
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