Al Majed for Oud opens nominations for new board term

ALMAJED OUD
4165 -1.52% 103.40 -1.60

Riyadh - Mubasher: Al Majed for Oud Company has opened the nomination process for the election of members to its Board of Directors for a new four-year term.

The company is seeking candidates for five seats, stipulating that at least two members must be independent in accordance with Corporate Governance Regulations.

The upcoming board term is scheduled to commence on 21 March 2027 and will conclude on 20 March 2031.

 Shareholders interested in nominating themselves or others must submit their applications during the designated window, which opened on 25 October 2026 and will close on 29 November 2026.

Candidates must satisfy all regulatory requirements and standards approved by the General Assembly on 8 August 2023.

Nominees must disclose any conflicts of interest and are prohibited from holding more than five board memberships in listed companies simultaneously.

The final selection of the five members will take place at a future General Assembly meeting, the date of which will be announced following necessary regulatory approvals.

In the first half (H1) of 2026, the company’s net profit reached SAR 136.90 million, representing a 5.71% decrease from SAR 145.20 million in H1-25.

Source: Mubasher Source: {{details.article.source}}