Riyadh – Mubasher: Saudi Azm for Communication and Information Technology Company has announced the election of a new Board of Directors for a four-year term and the ratification of amendments to the company’s internal bylaws and competition standards.
The resolutions were made during the Extraordinary General Assembly on 11 June 2026, according to a bourse filing.
A central agenda item was the election of the Board of Directors for the upcoming term, which is set to begin on 22 June 2026 and concludes on 21 June 2030.
Shareholders cast their votes to elect five members to the board: Ahmed Abdulaziz Al Haqbani, Majed Saad Al-Osaimi, and Mohammed Ibrahim Al Qunaibit. This is in addition to Ali Mohammed Al Balla and Omar Abdulrahman Al Jeraisy.
This newly formed board will be responsible for overseeing the company’s strategic direction and operational integrity through the end of the decade.
In addition to leadership appointments, the assembly approved a formal amendment to Article 4 of the company’s Bylaws, which outlines the primary objectives and purposes of Saudi Azm. Such amendments are frequently utilized by listed companies to ensure that their legal framework remains aligned with current market activities and future expansion plans within the digital and communications sectors.
Furthermore, shareholders granted their approval for the modification of standards and criteria related to board members engaging in business that competes with Saudi Azm or its various branches.
By refining these guidelines, the company aims to strengthen its corporate governance framework, ensuring that any potential conflicts of interest are managed with high levels of transparency and in strict accordance with the regulatory environment of the Saudi capital market.
The meeting also saw participation from the company’s specialized committees, with Mohammed Amin Merah representing the Audit Committee. The presence of committee leadership underscores the company’s commitment to maintaining rigorous oversight during the transition between board terms. The resolutions passed during this assembly provide Saudi Azm with updated regulatory and leadership foundation as it enters its next phase of corporate development starting in late June 2026.
It is worth noting that the latest financial results of Saudi Azm reflected SAR 34.74 million in net profits attributable to the shareholders during the first nine months (9M) of fiscal year (FY) 2025/2026.
