Emaar Economic City announces appointments for new board term
EMAAR EC
4220 -0.30% 10.03 -0.03
Riyadh – Mubasher: Emaar The Economic City, the master developer of King Abdullah Economic City, has officially announced the restructuring of its leadership and the formation of its primary sub-committees.
Following the commencement of a new four-year board cycle on 26 June 2026, the company has confirmed the appointment of its Chairman, Vice Chairman, and board secretary, alongside the composition of its executive and nominations and remunerations committees.
The recent appointments follow the results of the ordinary general meeting (OGM), held on 22 June 2026, during which shareholders elected the Board of Directors for the current session. This new term is scheduled to span four years, concluding on 25 June 2030.
In a subsequent board meeting held on June 28, 2026, the directors finalized the internal governance structure to oversee the company’s strategic direction for the duration of the term.
The board has appointed Engineer Muhannad Kusai Al-Azzawi as the Chairman of the Board of Directors. Al Azzawi serves in a non-executive capacity. Supporting the leadership, Naif Saleh Al Hamdan has been designated as the Vice Chairman, also serving as a non-executive director.
The full board composition for this cycle includes non-executive members Fahad Khalid Al Saud, Engineer Mohammed Nabil Hefni, and Khalid Mansour Al-Salman.
The independent directors serving on the board are Fahad Saleh Al Hathlool, Abdulrahim Abdullah Al-Tuwaijri, Engineer Mustafa Akram Abu Qaba, and Pawan Dhanraj Shindalya.
To facilitate specialized oversight, the board approved the formation of the Nominations and Remunerations Committee. This body will be chaired by Abdulrahim Abdullah Al Tuwaijri, an independent board member.
The committee also includes non-executive directors Fahad Khalid Al Saud and Khalid Mansour Al Salman. Reflecting a commitment to external perspective, the company has included Mansour Al Mansour as an independent member from outside the board.
Simultaneously, the Executive Committee has been established to manage high-level operational and strategic functions.
This committee is led by Chairman Engineer Muhannad Kusai Al Azzawi. Its membership includes Vice Chairman Mr. Naif Saleh Al-Hamdan, Engineer Mohammed Nabil Hefni, and Engineer Mustafa Akram Abu Qaba. The Executive Committee also features an external independent member, Nasser Al Kuwari, further diversifying the committee's expertise.
In addition to these appointments, the Board of Directors has designated Abdulrahman Yasser Bassiouni to the role of Board Secretary.
The company noted that the formation of the audit committee was handled through a separate resolution and has been disclosed in a dedicated announcement.
These administrative and leadership steps finalize the transition into the new board term, ensuring that Emaar EC operates under a complete governance framework in accordance with Saudi Arabian regulatory requirements.
The structured appointments of both board members and external experts to key committees underscore the company’s focus on maintaining institutional stability and professional oversight through 2030.
Source: Mubasher Source: {{details.article.source}}