Advanced Receives Resignation Letter of Yazid Al-Shathry, Bader Al-Shathry from BOD

The Saudi Advanced Industries Company (SAIC) announced on Monday that it had received a letter of resignation from the two members of the company’s board of directors: Yazid Khaled Al-Shathry and Bader Khaled Al-Shathry on June 4, 2022, prior to the first meeting of the Board of Directors.

The company said in a statement to the Saudi market, “Tadawul”, Monday that the members of the board preferred to wait until the appointment of the chairman and vice-chairman of the board of directors and the formation of committees.

The Board of Directors decided to study the applications and assign the Nominations and Remunerations Committee the necessary work to study the status of the letters, and the company will announce later any future developments in this regard.

This came in reference to the news circulating on social media in the previous matter.