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Saudi Basic Industries Corporation (SABIC) announces resignation and appointment of an audit committee Member
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Basic Industries Corporation (SABIC) announces that the Board of Directors resolved, in its meeting of 27 February 2024, to approve acceptance of resignation of Mr. Stephan Van Santbrink (Non-Director Outside Member) from the Audit Committee for personal reasons. The resignation becomes effective as of 27 February 2024. The Board of Directors also approved, at the same meeting, appointment of Mr. Ralph Wetzels, (Non-Director Outside Member), to the Audit Committee’s vacant seat as of 28 February 2024, provided his appointment is submitted to the next General Assembly to approve it. The member shall complete the remaining period of the current Committee term that expires on 9 April 2025. The Board of Directors extends sincere thanks and appreciation to Mr. Stephan Van Santbrink for the efforts and contribution he put during his tenure with the Committee, while it wishes all success to Mr. Ralph Wetzels. |
| Element List | Explanation |
|---|---|
| Name of Resigning Member | Mr. Stephan Van Santbrink |
| Resignation Submission Date | 2024-02-21 Corresponding to 1445-08-11 |
| Resignation Effective Date | 2024-02-27 Corresponding to 1445-08-17 |
| Reasons for Resignation | Personal Reasons |
| Resigning Member Start Date | 2022-04-10 Corresponding to 1443-09-09 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Ralph Wetzels |
| Membership Start Date | 2024-02-28 Corresponding to 1445-08-18 |
| Brief Resume of the Appointed Member | Mr. Ralph Wetzels holds a Bachelor in Business Administration, Master in Finance Economics, and Master in Tax Law. He currently assume the position of Senior Vice President of Downstream Finance at Saudi Aramco. He previously assumed several positions at the Royal Dutch Shell. |
| The date of the approval by other official authorities | N/A |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2024-02-27 Corresponding to 1445-08-17 |
| Additional Information | The approval of the Board is not final, and this appointment will be present to the first meeting of the General Assembly for approval. |
| Attached Documents |  |
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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