| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Saudi Arabian Refineries Company (SARCO) announces that its board of directors has accepted the resignation submitted by Mr. Maqid bin Ibrahim Al-Otaibi (Member of the Board of Directors) from the position of Managing Director, according to the minutes of the Board of Directors issued on 12/01/1443 AH corresponding to 30/06/2022 in the evening, at The resignation shall be effective from 01/07/2022.
The members of the Board of Directors of the Saudi Arabian Refineries Company (SARCO) extend their thanks and appreciation to Mr. Maqid bin Ibrahim Al-Otaibi for his efforts in managing the company in the previous period, wishing him success. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Name of the Resigned CEO | Maqid Ibrahim Al-Otaibi |
| Resignation Acceptance Date | 2022-06-30 Corresponding to 1443-12-01 |
| Resignation Effective Date | 2022-07-01 Corresponding to 1443-12-02 |
| Reasons for Resignation | Not adopting some powers and not interacting in some matters to facilitate the company’s business |