Riyadh - Mubasher: Tourism Enterprise Company (Shams) announced that its board of directors approved the formation of the audit committee for the current term on 17 July 2026.

The appointments are effective from the date of the board decision, according to a bourse filing.

The committee will be chaired by Fawaz bin Abdul Sattar Al Alami, who holds a doctorate and a degree in economic and financial sciences from Stanford University.

Al Alami brings extensive experience in research, consulting, and board memberships to the role.

Joining the committee as members are Saif bin Faheed Al Harbi and Abdullah bin Lafi Al Otaibi. Al Harbi, an Oklahoma State University doctorate holder, specializes in strategic planning and supervision.

Al Otaibi, an external member, holds a master’s degree in accounting from King Saud University and has expertise in financial system development and strategic financial planning.

The board of directors finalized these appointments during its meeting held on 17 July 2026. The company stated that no objections from official authorities were applicable to these appointments.

Shams has appointed Majed bin Nawar Al Otaibi as the company’s new Chief Executive Officer (CEO).