Chemanol’s chairman steps down, Fahad Al-Shaya takes helm

Logo of Methanol Chemicals Co.

Methanol Chemicals Co.’s (Chemanol) board appointed Fahad bin Fozan Al-Shaya (non-executive) as Chairman, in place of Faris bin Mansour Al-Rajhi (independent member) who submitted his resignation on April 15, according to a statement to Tadawul.
 

The board also Abdullah bin Sulaiman Al-Sayari (independent member) as Vice Chairman.

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In a separate statement, the company announced that Al-Rajhi has resigned from his position as chairman and board member due to professional circumstances that require his full attention and a reorganization of priorities during the upcoming period. It noted that the resignation is effective as of April 15.
 

Al-Rajhi was an independent board member in the current term, which started on Nov. 12, 2024.
 

Moreover, the board named Abdullah bin Sulaiman Al-Sayari as a board member to serve out the remaining term of his predecessor until the end of the current term on Nov. 11, 2025.
 

Chemanol also indicated that the board’s approval is not final, adding that the appointment will be put before the first general assembly meeting for approval.
 

According to data available with Argaam, the company’s board has recently appointed Fahad Al-Shaya as Vice Chairman, in place of Yousef bin Abdullah Al-Rajhi.