Rasan Information Technology Co. Announces Resignation and Appointment of a Board Member
| Element List | Explanation |
|---|---|
| Introduction | Rasan Information Technology Company announces that its Board of Directors has issued a resolution by circulation on Thursday 24 April 2025 and accepted the resignation of the Board Member, Mr. Mohammed Muheideb Ali AlMuheideb (Non-Executive Director) from the company's ’s Board membership and the Audit Committee and the Nomination & Remuneration Committee due to personal reasons.
The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has issued on the same date its decision to appoint Mr. Turki bin Salman Al-Sudairy as a member of the Board of Directors (Independent Director), effective from Sunday, 29 Shawwal 1446 H, corresponding to April 27, 2025, to complete the remaining statutory term of the current Board. The chairman and the board members had extended their thanks and appreciation to Mr. Mohammed Muheideb Ali AlMuheideb for all his efforts during his membership in the Board and its subcommittees, wishing him success. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Mr. Mohammed Muheideb Ali AlMuheideb |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2025-04-24 Corresponding to 1446-10-26 |
| Resignation Effective Date | 2025-04-24 Corresponding to 1446-10-26 |
| Membership Starting Date for the Resigned Member | 2022-08-04 Corresponding to 1444-01-06 |
| Reasons of Resignation | Due to personal reasons. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Turki Salman Al-Sudairy |
| Membership Type | Independent |
| Membership Start Date | 2025-04-27 Corresponding to 1446-10-29 |
| Brief Resume of the Appointed Member | Mr. Turki bin Salman Al-Sudairy holds a Bachelor's degree in Financial Management from Concordia University in Montreal, Canada. He has over 10 years of leadership experience in the fields of insurance, investment, and entrepreneurship.
He previously held senior positions at insurance brokers firms for 10 years, including serving as Managing Partner and CEO of StarCare Insurance Broker and Abdul Latif Jameel Insurance Broker.
He currently serves in the boards of several companies and investment funds, including: Vice Chairman of the Board of Directors at Saudi Reinsurance Company “Saudi Re”, and as a board member of various investment funds such as the Alpha Flexible Fund for the Nomu Market.
He has also previously served on several boards and committees, including: Vice Chairman of the General Committee for Insurance and Reinsurance Brokerage at the Saudi Central Bank, and a member of the Permanent Health Insurance Committee at the Council of Health Insurance. |
| 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 | 2025-04-24 Corresponding to 1446-10-26 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
| Attached Documents |  |
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