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Al Jouf Cement Company announces the non-renewal of the Chief Executive Officer's contract at his request and the appointment of a Managing Director.
| Element List | Explanation |
|---|---|
| Introduction | Al Jouf Cement Company announces the decisions of its Board of Directors, dated 12-01-1447 AH, corresponding to 07-07-2025 AD, as follows: 1. Approval of the resignation of the Chief Executive Officer, Mr. Abdulkarim bin Mohammed Al-Nuhair, effective at the end of his contract on 21-08-2025, as per his request. 2. Appointment of Mr. Qais Hussein Balas as the Managing Director of the company (Executive Member of the Board of Directors), effective from the date of the Board’s decision until the end of the current Board term on 05-08-2027. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Abdulkarim bin Mohammed Al-Nuhair |
| Resignation Acceptance Date | 2025-07-07 Corresponding to 1447-01-12 |
| Resignation Effective Date | 2025-08-22 Corresponding to 1447-02-28 |
| Reasons for Resignation | The Chief Executive Officer's unwillingness to renew his contract. |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Mr. Qais Hussein Balas |
| Date of Board Resolution | 2025-07-07 Corresponding to 1447-01-12 |
| Date Work Commencement | 2025-07-07 Corresponding to 1447-01-12 |
| Brief Resume | Mr. Qais Balas possesses over 25 years of leadership experience, having served as the Chief Executive Officer of Al-Manaseer Cement Factory, one of the largest industrial groups in the Hashemite Kingdom of Jordan. His expertise was further honed as the Chief Financial Officer of the GMS Group and as a Senior Internal Auditor at Fastlink. Additionally, he contributed to the Hikma Group, a company listed on the London Stock Exchange, as the Director of Investments and Business Development, demonstrating proficiency in global markets. |
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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