The National Shipping Company of Saudi Arabia (Bahri) announced that the company’s board of directors had approved the resignation of its chairman, Abdulrahman Mohammed Al Mofadhi, non-executive director and a representative of the Public Investment Fund (PIF), on Thursday.
Bahri’s board recommended the appointment of Raid Ismail as PIF’s new representative, according to a statement to the Saudi Stock Exchange (Tadawu) on Sunday.
The board’s decision will be effective as of 2 May and until the end of the board’s term on 16 January 2020.
The company’s board also decided to appoint Mohammed Al Sarhan as chairman and Abdulmalik Al Hogail as vice chairman.
The appointment decision will be referred to the next general assembly meeting for approval.