Riyadh – Mubasher: Saudi Fisheries Company has officially announced the commencement of the nomination period for its Board of Directors for the new three-year term that is scheduled to begin in October 2026, according to a bourse filing.
The company is inviting qualified shareholders who meet the regulatory requirements and possess the professional expertise to add strategic value to its future operations to submit their applications within the designated timeframe.
The upcoming board cycle will consist of five seats and is set to run from 25 October 2026 until 24 October 2029.
The nomination window opened on 21 June 2026 and will remain active for one month, concluding on 21 July 2026.
This process is being conducted in strict adherence to the Companies Law issued by the Ministry of Commerce, the Corporate Governance Regulations of the Capital Market Authority (CMA), and the company’s internal bylaws and approved membership policies.
Candidates seeking a position on the board must fulfill several professional and ethical criteria. These include maintaining a clean legal record, possessing leadership capabilities, and demonstrating financial literacy, specifically the ability to interpret financial statements and reports.
Furthermore, a candidate may not serve on the boards of more than five listed joint-stock companies simultaneously. The selection process will also prioritize diversity in academic qualifications and practical experience, ensuring the board is equipped with the necessary skills in management, economics, law, or governance.
Current or former board members of Saudi Fisheries Company must also submit a performance record from the company’s management detailing their attendance at board and committee meetings during their last term.
Transparency regarding potential conflicts of interest is a critical component of the application. Candidates are required to disclose any direct or indirect interests in contracts or businesses related to the company, as well as any involvement in activities that compete with Saudi Fisheries’ operations.
The Remuneration and Nomination Committee will review all submissions and reserves the right to exclude any incomplete applications without further notice.
The final selection of board members will be conducted via cumulative voting during a General Assembly meeting, the date of which will be announced following the completion of the regulatory review.
Only candidates who have successfully navigated the nomination process and met the criteria set forth in the company’s membership policy will be eligible for election.
The opening of the nomination period marks a significant step in the company’s corporate governance cycle, ensuring that the leadership transition for the 2026-2029 term is conducted in a transparent and regulated manner.
By seeking candidates with specific professional competencies, Saudi Fisheries aims to strengthen its strategic oversight and align its board composition with its long-term developmental goals.
