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2021-06-06

SAMI Restructures Board of Directors

Saudi Arabian Military Industries (SAMI), a wholly owned subsidiary of the Public Investment Fund (PIF), recently announced the outcome of its Extraordinary General Assembly Meeting, in the presence of SAMI’s Board representative and Vice-Chairman H.E. Dr. Ghassan Al-Shibl and PIF representative Omar Abalkhail.

Having completed the legal quorum in accordance with Article 30 of the company’s Articles of Association and having reviewed the assembly’s agenda, based on the results of the vote, the assembly approved all items put up to a vote. This included the amendment of Article 12 of its Articles of Association, increasing the number of board members from nine to 10, and agreeing to restructure the company’s board of directors. This will be effective for a three-year term as of the date of the Extraordinary General Assembly Meeting.

H.E. Mr. Ahmed bin Aqeel Al-Khateeb, Chairman of SAMI, said: “We congratulate the company for restructuring its board, and welcome its new members in their roles, to whom we wish every success. We also thank the former board members for their hard work and efforts during a period of significant accomplishments. We would like to renew our commitment to all our customers and stakeholders that we will continue our journey of achievements and that the board will make every effort to ensure the company’s success in supporting the localisation of more than 50 per cent of Saudi Arabia’s military spending by 2030.”

SAMI’s vision is to be among the top 25 military industries companies around the world by developing world-class military products and services as well as achieving self–sufficiency in Saudi military industries through cutting-edge technologies and the best national talents. The company’s affiliates include Advanced Electronics Company (AEC, a wholly owned subsidiary), Accessories and Components Company (AACC), SAMINavantia (a joint venture with Navantia S.A.), SAMIL3Harris (a joint venture with L3Harris Technologies), and SAMICMI (a joint venture with CMI Group).

The following is SAMI’s restructured board of directors:

1- H.E. Ahmed bin Aqeel Al-Khateeb, Chairman

2- H.E. Bandar bin Ibrahim Alkhorayef, Board Member

3- H.E. Gen. Abdulrahman bin Saleh Albunayyan, Board Member

4- H.E. Dr. Khaled bin Hussain Albiyari, Board Member

5- H.E. Dr. Ghassan bin Abdulrahman AlShibl, Vice-Chairman

6- H.E. Dr. Ghassan bin Ahmed Alsulaiman, Board Member

7- Eng. Mosaed bin Sulaiman Al-Ohali, Board Member

8- Mazen bin Ahmed Al-Jubeir, Board Member

9- Abdulaziz bin Abdulrahman Al-Sowailim, Board Member

10- Yasir bin Abdullah Al-Salman, Board Member

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