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Taiba Investments Co. Announces The Resignation and Appointment of the CEO
| Element List | Explanation |
|---|---|
| Introduction | Taiba Investment Co. Board of Directors held a meeting on 18-6-1445 H, corresponding to 31-12-2023 after being elected by the company’s General Assembly on 15-6-1445 H, corresponding to 28-12-2023 The Board took a number of decisions, including accepting the resignation of Eng. Saleh bin Habdan Al-Habdan from the position of CEO and appointing him as Managing Director of the company effective from 19-6-1445 H corresponding to 1-1-2024. The Board of Directors also decided to approve the appointment of Mr. Sultan bin Badr Al-Otaibi as CEO of Taiba Investment Company, effective 19-6-1445 H, corresponding to 1-1-2024. The Board expressed its thanks and appreciation to Eng. Saleh Bin Habdan Al-Habdan for his distinguished efforts and contributions during his work as CEO of the company and his effective contribution to developing the company’s business and strategy, wishing him further success in his work as Managing Director of the company. The Board of Directors also wished Mr. Sultan bin Badr Al-Otaibi success in his work as CEO of the company. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | En. Saleh bin Habdan Al-habdan |
| Resignation Acceptance Date | 2023-12-31 Corresponding to 1445-06-18 |
| Resignation Effective Date | 2024-01-01 Corresponding to 1445-06-19 |
| Reasons for Resignation | Elected as a member of the Board of Directors and appointed as Managing Director |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Mr. Sultan bin Badr Al-Otaibi |
| Date of Board Resolution | 2023-12-31 Corresponding to 1445-06-18 |
| Date Work Commencement | 2024-01-01 Corresponding to 1445-06-19 |
| Brief Resume | Mr. Sultan Al-Otaibi holds a bachelor’s degree in accounting from King Saud University, and a master’s degree in hotel management from the Emirates Academy for International Hospitality accredited by the University of Lausanne in Switzerland, in addition to a number of specialized programs and courses from Cornell Hotel University in the United States of America, and he has hotel and real estate experience for more than 20 years, he has held a number of leadership positions at Dur Hospitality Company, most recently the position of CEO of the company before his appointment as CEO of Taiba Investment Company. |
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.
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