| Element List | Explanation |
|---|---|
| Introduction | Methanol Chemicals Company (Chemanol) announces that Eng. Abdullah Abdul Aziz Nasser Al-Znaedi has resigned from his position as a member of the Board of Directors on 28/08/1446 H corresponding to 27/02/2025 due to his new work circumstances and inability to dedicate the time required to perform his role as a Board member. The resignation is effective from the date hereof. |
It is worth noting that Eng. Abdullah Al-Znaedi was an independent Board member whose last term began on 12/11/2024.
Meanwhile, the Board of Directors has decided on 27/02/2025 to appoint Mr. Fahad Fozan Al-Shaya as a replacement member until the end of the current Board term on 11/11/2028.
Mr. Al-Shaya is currently a member of the Company's Executive Committee and Nomination & Remuneration committee.
| Element List | Explanation |
|---|---|
| Resigned Member Name | Abdullah Abdul Aziz Nasser Al-Znaedi |
| Membership Type | Independent |
| Resignation Submission Date | 2025-02-27 Corresponding to 1446-08-28 |
| Resignation Effective Date | 2025-02-27 Corresponding to 1446-08-28 |
| Membership Starting Date for the Resigned Member | 2024-11-12 Corresponding to 1446-05-10 |
| Reasons of Resignation | due to his new work circumstances and inability to dedicate the time required to perform his role as a Board member |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Fahad Fozan Al-Shaya |
| Membership Type | Non- Executive |
| Membership Start Date | 2025-02-27 Corresponding to 1446-08-28 |
| Brief Resume of the Appointed Member | Mr. Fahad Al-Shaya holds a Bachelor's degree in Accounting with honors from King Saud University. He has a wide practical experience for almost 27 years during which he held numerous leadership and executive positions at SABIC and Ma'aden. He also held membership in various committees and boards, most notably Executive Committee of Tatweer Education Holding Co., the Board of Directors of Talemia Co. (a subsidiary of Tatweer Education Holding Co). |
Mr. Al-Shaya currently holds membership in the Executive and Nominations & Remuneration Committees at Chemanol. He also recently assumed the chairmanship of the Board of Directors of Addar Chemicals Co. and Global Company for Chemical Industries, both companies are subsidiaries of Chemanol
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2025-02-27 Corresponding to 1446-08-28 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
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