SAPTCO: Musad Aldaood Appointed Vice Chairman of BOD

The Board of Directors of the Saudi Public Transport Company (SAPTCO) announced on Tuesday the decisions that were taken during its first meeting for the year 2022, held on Monday January 17, 2022, related to restructuring of the Board of Directors and its committees, during the current Board’s term, which started on January 01, 2022 and ends on December 31, 2024, which as the following:

First: Appointment of Mr. Musad Bin Abdulaziz Aldaood as Vice Chairman of the Board of Directors. (Independent Member)

Second: Formation of the Remuneration and Nominations Committee.

Third: Formation of the Investment and Strategy Committee.

Fourth: The company representatives have been appointed to the Capital Market Authority and to the Saudi Stock Exchange Company (Tadawul) for all purposes related to the application of the capital market system and its implementing regulations.

Fifth: Appointing the Board of Directors Secretary.

The company explained that the formation of the Audit Committee was approved during the meeting of the Ordinary General Assembly, which was held on December 20, 2021 and for a period of three years starting on January 01, 2022 and ending on December 31, 2024. This has been announced in the Ordinary General Assembly meeting results announcement.

This comes with reference to the results of the company’s Ordinary General Assembly meeting held on December 20, 2021, in which the members of the Board of Directors were elected among the candidates for the new term, for a period of three years starting on January 01, 2022 and ending on December 31, 2024, the company concluded.