| Element List | Explanation |
|---|---|
| Introduction | Fawaz Abdulaziz Alhokair Co. (“Alhokair” or “the Company”) announces the approval of the Board of Directors on the resignation of Mr. Mansour Abdulwahhab Qadi, board member (independent), from his membership in the Board of Directors due to his personal reasons. |
The Board of Directors extends its deepest gratitude and appreciation to Mr. Mansour Abdulwahhab Qadi for his valuable contributions during his membership, wishing him continuous success.
Concurrently, the Board of Directors has approved through a resolution dated 05 January 2022 the appointment of Mr. Mohamad Rafic Mourad as a new member of the Board of Directors (non-executive) until the end of the current session of the Board.
Mr. Mourad’s extensive and multifaceted expertise in technology, ecommerce, and retail will be instrumental as Alhokair continues its transformation journey to become the leading lifestyle retailer in KSA and select growth markets.
| Element List | Explanation |
|---|---|
| Resigned Member Name | Mr. Mansour Abdulwahhab Qadi |
| Membership Type | Independent |
| Resignation Submission Date | 2022-01-04 Corresponding to 1443-06-01 |
| Resignation Acceptance Date | 2022-01-05 Corresponding to 1443-06-02 |
| Resignation Effective Date | 2022-01-05 Corresponding to 1443-06-02 |
| Membership Starting Date for the Resigned Member | 2020-08-12 Corresponding to 1441-12-22 |
| Reasons of Resignation | Due to personal reasons. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Mohamad Rafic Mourad |
| Membership Type | Non- Executive |
| Membership Start Date | 2022-01-05 Corresponding to 1443-06-02 |
| Brief Resume of the Appointed Member | Mr. Mourad has a career spanning 28 years with extensive experience in technology, retail, consumer goods and e-commerce. |
Mr. Mourad has held various senior leadership roles at major tech companies, including nearly 10 years at Google, part of which he was Google’s Managing Director for Middle East and North Africa, before taking a global role at their headquarters in Silicon Valley. More recently, Mr. Mourad served as a Vice President at Instacart, the leading on-demand e-commerce player in North America.
Prior to that, Mr. Mourad was in management consulting at Booz & Company (now Strategy&), focusing on M&A and corporate development. Mr. Mourad has a deep knowledge of the Saudi Arabian market acquired through spending more than 10 years in the country and through serving the market during his various regional and global roles.
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2022-01-05 Corresponding to 1443-06-02 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting 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.