Riyadh — Mubasher: Abdullah Al Othaim Markets Company announced that its board of directors has approved the resignation of executive board member Muwaffaq Abdullah Mubarah, effective 12 August 2026.

The company stated that the resignation was submitted due to personal circumstances, noting that Mubarah had served on the board since 29 July 2023.

To fill the resulting vacancy for the remainder of the current board term, the company appointed Abdulmalik Abdullah Al Othaim as an executive director and managing director, effective 12 August 2026, according to a bourse filing.

Al Othaim currently serves as the CEO of Abdullah Al Othaim Investment Company and is a member of the executive committee at Abdullah Al Othaim Markets.

The newly appointed director holds a Bachelor of Science from Suffolk University in the United States, obtained in 2020.

He also possesses extensive experience across the retail, financial services, and investment sectors.

Meanwhile, the board's appointment remains subject to formal approval by the company’s shareholders at the next General Assembly meeting.

It is worth noting that the listed company lately announced its financial results for the six-month period ended on 30 June 2026.