| Element List | Explanation |
|---|---|
| Introduction | SADAFCO announces the resignation of Mr. Faisal Hamad Mubarak Al Ayyar from his position as a Non Executive Member of the Board of Directors, due to personal reasons. Furthermore, the Board of Directors has resolved to appoint Mr. Samer Mohammed Emad Abbouchi as a Non Executive Member of the Board of Directors to complete the remaining period of the current Board term, which ends on 31 March 2028. The Board of Directors extends its appreciation and gratitude to Mr. Faisal Hamad Mubarak Al Ayyar for his efforts and contributions during his tenure as a Board member and wishes him continued success. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Mr. Faisal Hamad Mubarak Al Ayyar |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2026-04-21 Corresponding to 1447-11-04 |
| Resignation Effective Date | 2026-04-21 Corresponding to 1447-11-04 |
| Membership Starting Date for the Resigned Member | 2024-04-01 Corresponding to 1445-09-22 |
| Reasons of Resignation | Due to personal reasons |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Samer Mohammed Emad Abbouchi |
| Membership Type | Non- Executive |
| Membership Start Date | 2026-04-21 Corresponding to 1447-11-04 |
| Brief Resume of the Appointed Member | Mr. Samer has a professional career spanning 22 years during which he gained significant exposure to the financial sector in Kuwait and the MENA region, with particular emphasis on investment banking. He currently serves as Deputy Group Chief Investment Officer at Kuwait Projects Company Holding (KIPCO), and he held several senior positions in Gulf Bank, including Deputy GM - Investment Banking and Head of Strategic Investments. He started his career with Ernst & Young and worked at Global Investment House. Mr. Samer holds a BA in Business Administration from the American University of Beirut, an MBA from London Business School and is a CFA Charter holder. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2026-04-21 Corresponding to 1447-11-04 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
| Attached Documents | Attached Documents |