City Cement proposes increasing number of board members

Logo of City Cement Co.

City Cement Co.’s board recommended today, April 22, amending the company’s Articles of Association by adding a new seat to the board of directors, bringing the total seats to eight.

The amendment aims to enhance the diversity of expertise and skills within the board, supporting the achievement of the company’s targeted growth and expansion strategies for the upcoming phase, the company said in a statement to Tadawul.

It also contributes to strengthening corporate governance practices, elevating the board’s overall effectiveness, and enhancing the integration of expertise among its members.

The company confirmed it will complete all necessary regulatory procedures and obtain the required approvals from the relevant authorities.

The recommendation will be presented to the upcoming general assembly meeting, the date of which will be announced in due course.

In a separate Tadawul statement, City Cement said its board of directors decided to reshuffle its remuneration and nominations committee, effective immediately until the end of the current term on June 18, 2029.