| Element List | Explanation |
|---|---|
| Introduction | Saudi Basic Industries Corporation (SABIC) announces Board decision to acceptance Mr. Olivier Thorel (non-executive member) resignation from the Board of Directors on 26 Muharram 1445H, corresponding to 13 August 2023. The resignation is effective as of 15 Safar 1445H, corresponding to 31 August 2023. |
The Board of Directors also decided to appoint Dr. Faisal Mohammed Al-Faqeer (non-executive member) in the vacancy in the Board of Directors as of 16 Safar 1445H, corresponding to 01 September 2023, to complete the current term of the Board, which ends on 09 April 2025.
On this occasion, the board of directors would like to extend its thanks and appreciation to Mr. Olivier Thorel for his tenure as a board member of the Company, wishing him success.
| Element List | Explanation |
|---|---|
| Resigned Member Name | Mr. Olivier Thorel |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2023-08-08 Corresponding to 1445-01-21 |
| Resignation Acceptance Date | 2023-08-13 Corresponding to 1445-01-26 |
| Resignation Effective Date | 2023-08-31 Corresponding to 1445-02-15 |
| Membership Starting Date for the Resigned Member | 2022-04-10 Corresponding to 1443-09-09 |
| Reasons of Resignation | Personal Reasons |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Dr. Faisal Mohammed Al-Faqeer |
| Membership Type | Non- Executive |
| Membership Start Date | 2023-09-01 Corresponding to 1445-02-16 |
| Brief Resume of the Appointed Member | Dr. Faisal Mohammed Al-Faqeer has extensive experience in Petrochemicals and Refining Industries. He is currently the Senior Vice President of Liquids to Chemicals in Saudi Aramco. He earned a Master’s degree and Ph.D. in Materials Science & Engineering from the Pennsylvania State University, as well as a Bachelor’s degree in Chemical Engineering from King Fahad University of Petroleum and Minerals. |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2023-08-13 Corresponding to 1445-01-26 |
| Board Approval | The approval of the Board is not final, and this appointment will be present to the first meeting of the General Assembly for approval. |
The Capital Market Authority and Saudi 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.