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Leejam Sports Company Announces the Board of Directors’ Resolution Approving the Resignation of the current CEO and the Appointment of a New CEO
| Element List | Explanation |
|---|---|
| Introduction | Leejam Sports Company (the Company) announces the Board of Directors resolution on 26 December 2024 based on the recommendation of the Nominations and Remuneration Committee, appointing Mr. Abdulelah bin Mohammed Al-Nemr as Chief Executive Officer (New CEO), wishing him every success in leading the company during the coming period within a transformational strategy aimed at the company’s growth and diversification of its investments and business, which the Board will work on in partnership with the new CEO and the company’s employees. It is worth mentioning that Mr. Abdulelah Al-Nemr is a current member of the Board of Directors, and he was a member of the Board of Directors and the Executive Committee of the Company from 2019 to 2021. The Board of Directors also approved on 26 December 2024 the resignation of Mr. Adnan bin Abdullah Al-Khalaf (the current CEO), which shall be effective upon the expiry of his contract on February 12th, 2025. The Chairman and members of the Board of Directors and on behalf of all the company’s employees extended their thanks and appreciation to Mr. Adnan Al-Khalaf for his efforts towards the company’s progress and success during his tenure as CEO, wishing him all success in his future endeavor. During the coming period and until the date of the new CEO’s joining, working with the current CEO and under the supervision of the Nominations and Remuneration Committee, a transition plan will be implemented to handover tasks from the current CEO to the new CEO ensuring the continuity of the company’s business. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Mr. Adnan Abduallah Al-Khalaf |
| Resignation Acceptance Date | 2024-12-26 Corresponding to 1446-06-25 |
| Resignation Effective Date | 2025-02-12 Corresponding to 1446-08-13 |
| Reasons for Resignation | The current CEO wishes not to renew his contract |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Mr. Abdulelah bin Mohammed Al-Nemr |
| Date of Board Resolution | 2024-12-26 Corresponding to 1446-06-25 |
| Date Work Commencement | 2025-02-13 Corresponding to 1446-08-14 |
| Brief Resume | Abdulelah Al-Nemr has over 21 years of professional experience and has filled several positions across Boards and Board Committees, as well as at C-level leadership within organizations. Abdulelah is experienced in leadership, stakeholder relations, public/ private sector partnerships, sustainability, as well business & project development, strategy, corporate banking, investment banking, and project finance. Abdulelah is the Deputy Governor for Funds Planning, Development, and Supervision at the National Development Fund (NDF) which is mandated to oversee 12 development Funds & Banks in KSA and enhance performance, alignment, and sustainability to achieve socio-economic development. Abdulelah oversaw development of NDF Financing Guidelines to be adopted by its development Funds & Banks, and accordingly advises on strategic planning, monitors operational performance and seeks to maximize private sector participation within activities of the Funds & Banks. Prior to joining National Development Fund, Abdulelah was the Chief Operating Officer at The Saudi Technology Development and Investment Company (TAQNIA) a wholly owned subsidiary of the Saudi Public Investment Fund (PIF) that is mandated to invest in local and international technologies and develop them into commercially viable enterprises. Abdulelah has also worked at Riyad Capital corporate investment banking division in addition a team leader in the Saudi Industrial Development Fund (SIDF). Over his career, Abdulelah has led and contributed to the closure of several successful debt and equity transactions, advised and evaluated greenfield and brownfield industrial projects across different sectors including health care, building materials, petrochemicals, defense, research and development, technology investment. Abdulelah has completed numerous training programs from reputable business schools including London Business School, and the Wharton Business School and IMD. Abdulelah obtained his bachelor’s degree in finance & economics with distinction from King Fahd University of Petroleum & Minerals. |
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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