Tadawul approves Al-Rabiah as chairman

25/02/2014 07:45 AST

The recomposed board of directors of Tadawul (Saudi stock exchange) held its inaugural meeting on Sunday at the exchange’s head office in Riyadh.

The meeting was held in the presence of all of its members, following its re-composition under the Council of Ministers’ resolution.

As the inaugural session kicked off, the members of the board of directors expressed their sincere gratitude and appreciation to Custodian of the Two Holy Mosques King Abdullah and Crown Prince Salman, deputy prime minister and minister of defense, for their trust and vote of confidence, while voicing a great sense of pride and commitment toward working to realize the noble ambitions of the Kingdom’s leadership for the good of the nation and its citizens. The board members also expressed their gratitude and appreciation to the chairman of the board of commissioners of the Capital Market Authority (CMA) for nominating their membership to the board of the exchange and for his unwavering and continued support to the development and efficacy of the Saudi capital market.

The board also pledged their commitment to building closer ties and driving collaborative efforts with the regulatory, legislative and executive bodies in the Kingdom to execute the strategic aspirations of the Saudi stock exchange for the coming years.

As part of the inaugural session, which focused primarily on board governance matters, the members considered and approved the nomination of Khalid I. Al-Rabiah as chairman, and Abdulrahman M. Al-Mofadhi as vice chairman, both of the board of directors. Members to the board sub-committees were also nominated and ratified.

As the session came to a close, the board expressed its appreciation to the departing chairman and vice chairman, as well as the board members who had completed their tenure for their tireless efforts and achievements during the period of their membership and wished them continued success and prosperity.

Arab News