Al Yamamah Steel forms new board of directors

ALYAMAMAH STEEL
1304 -3.21% 41.00 -1.36

Riyadh - Mubasher: Al Yamamah Steel Industries Company has officially announced the formation of its Board of Directors and the composition of its subcommittees for a new four-year term.

Following the Ordinary General Assembly meeting held on 14 June 2026, the board convened on 23 June 2026 to finalize the appointment of its Chairman, Vice Chairman, and committee heads.

The new governance structure is set to take effect from 26 June 2026, and will remain in place until 25 June 2030.

The Riyadh-based steel manufacturer confirmed that Khalid Abdullah Al Shami, a non-executive board member, has been appointed as the Chairman of the Board of Directors.

Serving alongside him as Vice Chairman is Raed Ibrahim Al Mudaiheem, who also holds a non-executive position on the board.

To ensure administrative continuity and regulatory compliance, the company has appointed Mohammed Khalid Al Qahtani as the Secretary of the Board.

In addition to leadership roles, the board designated Khalid Abdullah Al Shami and Sahl Makhdar Khadran Al Thubaiti as the official company representatives to the Capital Market Authority (CMA) and the Saudi Tadawul Group. These representatives will manage the company’s formal disclosures and regulatory interactions for the duration of the term.

The formation of the Audit Committee was a central component of the disclosure, highlighting the inclusion of high-level financial expertise.

Ahmed Ali Al Dhabi, an external member with over 17 years of experience in the banking and financial sectors, was named Chairman of the Audit Committee.

Al Dhabi previously served as the Group Chief Financial Officer at the Saudi National Bank (SNB) and played a pivotal role in the merger between National Commercial Bank and Samba Financial Group.

He is joined on the committee by independent board members Waleed Mohammed Al-Bassam, an expert in finance and governance, and Qassim Abdulghani Al Maimani, who brings 35 years of experience in industrial operations and executive management.

The Nomination and Remuneration Committee will be chaired by independent director Ahd Abdulaziz Owaidha. The committee also includes non-executive members Muhanna Abdullah Al Muhanna and Khalid Abdullah Al Shami. This committee is tasked with overseeing the selection of board members and establishing compensation frameworks that align with the company’s long-term strategic goals.

Furthermore, the board established an Executive Committee to oversee the implementation of corporate strategy and operational performance.

Raed Ibrahim Al Mudaiheem will chair this committee, supported by non-executive members Muhanna Abdullah Al-Muhanna and Khalid Abdullah Al-Shami.

The new appointments reflect a blend of industrial experience and financial oversight, aimed at steering the company through the upcoming four-year cycle. All decisions regarding these appointments and committee formations are effective as of the start of the new board session on 26 June 2026.

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