| Element List | Explanation |
|---|---|
| Introduction | The Eastern Development Company announces the expiration of the contract of the CEO, Mr. Muhammad Al-Hujailan, as the contract expires on 12/31/2023. The Board of Directors decided on 10/31/2023 not to renew the contract, provided that the notice period is for two months, starting from 10/31/2023 until Date 12/31/2023 |
The Board of Directors extends its thanks and appreciation to Professor Muhammad Al-Hujailan for his efforts during his work period and wishes him continued success.
| Element List | Explanation |
|---|---|
| Name of the Resigned CEO | Mr. Muhammad bin Abdullah Al-Hujailan |
| Resignation Acceptance Date | 2023-10-31 Corresponding to 1445-04-16 |
| Resignation Effective Date | 2024-01-01 Corresponding to 1445-06-19 |
| Reasons for Resignation | The contract expires on 12/31/2023, and the Board of Directors decided on 10/31/2023 not to renew the contract, provided that the notice period is for two months, starting from 10/31/2023 until 12/31/2023. |
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.