Policy and criteria of nomination | Candidates must meet the eligibility requirements for nomination to the Board of Directors as stated in the relevant regulations and rules, while adhering to the following:
-Submission of a signed letter to the Nominations and Remuneration Committee expressing the desire to run during the specified announcement period, accompanied by a resume, qualifications, and experience.
-Completion of the CV Form (1) (attached).
-Submission of a clear copy of the national identity card and the family card for individuals, and a copy of the passport for non-Saudis.
-Submission of a signed copy of Form No. (3) issued by the Capital Market Authority for nomination to the Board of Directors (attached).
It is required that a member of the Board of Directors possesses the necessary professional competence, expertise, knowledge, skill, and independence to effectively perform their duties. In particular, they should possess the following:
1.Leadership Ability: They must have leadership skills that enable them to delegate authority, stimulate performance, implement best practices in effective management, and adhere to professional values and ethics.
2.Competence: They must possess the necessary educational qualifications, professional skills, appropriate personal attributes, training level, and practical experience related to the company's current and future activities, or in management, economics, accounting, law, or governance, along with a desire for learning and training.
3.Guidance Ability: They should have technical, leadership, and administrative skills, quick decision-making abilities, and an understanding of the technical requirements related to workflow, as well as the capability for strategic guidance, planning, and a clear future vision.
4.Financial Knowledge: They should be able to read and understand financial statements and reports.
5.Health Fitness: They should not have any health restrictions that impede them from performing their duties and responsibilities.
• They must not be employees of the public sector.
• They must not have been subject to any decision by the Capital Market Authority or any judicial or regulatory body that found them in violation of the Companies Law or the Capital Market Law and its regulations, or have committed any punishable offense.
• No person who has previously been convicted of a crime that undermines honor and trust should be nominated.
• Preference will be given to those with sufficient knowledge of administrative and financial matters, who are familiar with the relevant rules, regulations, and legislation, and understand the rights and responsibilities of the Board of Directors.
Please note that incomplete applications will not be considered, and voting in the General Assembly will be limited to those who have nominated themselves for membership on the Board of Directors in accordance with the policies and criteria for board membership and the procedures and provisions outlined in this announcement. |