News

18 December 2018

Global shareholders elect a new board of directors to represent changes in shareholders’ structure

Global held today its Ordinary General Meeting (OGM) and elected a new board of directors for the coming three years to represent the changes in the shareholders’ structure following acquisition of majority stake by KAMCO Investment Company.

Shareholders approved the dissolution of the current board of directors and elected a new board of directors for three years including:

 

  • Faisal M. Sarkhou (representing KAMCO Investment Company)
  • Mohammed Al-Hubail (representing Al-Zad Real Estate)
  • Khaled Fouad (representing First North Africa Real Estate)
  • Mazen Hawwa (representing Al-Diyafah United)
  • Joseph Kawkabani (representing Nawasi United)
  • Abdul Wahab Al-Halabi (representing Kubbar Real Estate)
  • Khalid Al-Shamsi (Independent Director)

 

Furthermore, Pietro Castronovo (representing Plans United) was elected as first reserve member and Ali Al-Hindal (representing Tadamon United Holding) as second reserve member.

 

Shareholders also ratified the appointment of advisory bodies, approved and licensed by the Capital Markets Authority, to discuss the possible merger with KAMCO Investment Company following the submission of both companies a joint application to the Capital Markets Authority showing the desire to merge where KAMCO will be the merging company and Global the merged company.

 

The newly elected board held its meeting after the OGM and named Faisal Sarkhou Chairman of the Board and Khaled Fouad Vice Chairman. The Board will reconstitute its committees namely the Board Audit Committee, the Board Remuneration Committee and the Board Risk Committee in another meeting.

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