Methanol Chemicals Company (Chemanol) announces the Resignation and Appointment of a Board Member
| Element List | Explanation |
|---|---|
| Introduction | Methanol Chemicals Company (Chemanol) announces that Eng. Faris bin Mansour Al-Rajhi has resigned, effective 17/10/1446 corresponding to 15/04/2025, from his position as Chairman and member of the Board of Directors due to professional circumstances that require his full attention and a reorganization of priorities during the upcoming period.
It is worth noting that Eng. Faris Al-Rajhi was an independent member of the Company's Board of Directors in its current term, which started on 12/11/2024.
The Board of Directors extends its sincere thanks and appreciation to Eng. Faris for his valuable contributions and efforts during the past period.
Additionally, on 15/04/2025, the Board of Directors resolved to name Mr. Abdullah bin Sulaiman Al-Sayari as a member of the Board of Directors to serve out the remaining term of his predecessor until the end of the current tenure of the Board on 11/11/2028. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Faris bin Mansour Al-Rajhi |
| Membership Type | Independent |
| Resignation Submission Date | 2025-04-15 Corresponding to 1446-10-17 |
| Resignation Effective Date | 2025-04-15 Corresponding to 1446-10-17 |
| Membership Starting Date for the Resigned Member | 2024-11-12 Corresponding to 1446-05-10 |
| Reasons of Resignation | Due to professional circumstances that require his full attention and a reorganization of priorities during the upcoming period. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Abdullah bin Sulaiman Al-Sayari |
| Membership Type | Independent |
| Membership Start Date | 2025-04-15 Corresponding to 1446-10-17 |
| Brief Resume of the Appointed Member | Mr. Abdullah Al-Sayari holds a Bachelor's degree in Business Administration from the University of Tampa, USA. He has held several leadership positions in Ma'aden and SABIC, as well as the Saudi Ports Authority. He is also a founding partner in Namaa Financial Technology Co. |
| The date of the approval by other official authorities | N/A |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2025-04-15 Corresponding to 1446-10-17 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
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