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Arabian Drilling Company Announces Resignation and Appointment of a CEO
| Element List | Explanation |
|---|---|
| Introduction | Arabian Drilling Company announces that its Board of Directors has issued a resolution dated 17/08/1447H (corresponding to 05/02/2026G), approving the resignation of Mr. Ghassan Abdulaziz Mirdad from his position as Chief Executive Officer of the Company, effective as of 21/08/1447H (corresponding to 09/02/2026G), due to personal reasons. Arabian Drilling Company also announces that the Board of Directors has issued a resolution, based on the recommendation of the Remuneration and Nomination Committee, approving the appointment of Mr. Fahad Abdullah Al-Bani as Chief Executive Officer of the Company, effective from 22/08/1447H (corresponding to 10/02/2026G). The Board of Directors expresses its gratitude to Mr. Ghassan Abdulaziz Mirdad for his efforts during his tenure with the company, wishing him continued success. and also wishes the new Chief Executive Officer success in his new duties. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Ghassan Abdulaziz Mirdad |
| Resignation Acceptance Date | 2026-02-05 Corresponding to 1447-08-17 |
| Resignation Effective Date | 2026-02-09 Corresponding to 1447-08-21 |
| Reasons for Resignation | Personal reasons |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Fahad Abdullah Al-Bani |
| Date of Board Resolution | 2026-02-05 Corresponding to 1447-08-17 |
| Date Work Commencement | 2026-02-10 Corresponding to 1447-08-22 |
| Brief Resume | Fahad Abdullah Al-Bani is a seasoned upstream leader with nearly three decades of expertise in drilling engineering, unconventional resources, and large-scale operational excellence. Most recently, he held the position of Vice President of Unconventional Reservoir (UR) Engineering Drilling & Completion at the Saudi Arabian Oil Company )Saudi Aramco(, where he propelled advancements in digitalization, automation, and innovative well-delivery technologies. Fahad has also taken on various managerial roles, including Board member of Saudi Aramco Nabors Drilling Company (SANAD). |
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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