The General Assembly of Al Mazraa Markets held its important meeting on Tuesday, March 10, 2026, which resulted in strategic decisions outlining the next phase. The election of the Board of Directors for a new four-year term, commencing on March 21, 2026, and continuing until March 20, 2030, was officially approved, reflecting the shareholders' commitment to leadership stability and continued corporate growth.
According to the official statement published on the Saudi Stock Exchange (Tadawul) website, the decisions included the appointment of Mr. Hazem Al-Aswad as Chairman of the Board (non-executive), and the appointment of Mr. Maher Al-Aswad as Vice Chairman of the Board (executive) and Managing Director of the company. The approvals also included the appointment of Mr. Abdul-Azim Al-Nasri as Secretary of the Board, in addition to naming the company's official representatives to the Capital Market Authority, the Saudi Stock Exchange (Tadawul), and the Securities Depository Center Company (Edaa). Furthermore, on March 24, 2026, the Board of Directors approved the formation of the Audit Committee for the new term.
A journey filled with success: The historical roots of Al Mazraa Markets Company
The Saudi Marketing Company, commercially known as Farm Markets, is one of the most prominent and established leading companies in the retail and commercial sector in the Kingdom of Saudi Arabia. Founded in 1978, the company has since been committed to meeting consumer needs by providing high-quality consumer and food products. The company began its journey with a single branch and has since expanded to establish a wide network of branches covering various regions of the Kingdom. This expansion would not have been possible without the clear strategic vision and wise management that has led the company throughout its history. The regular convening of general assemblies and the consistent implementation of their resolutions reflect the company's institutional maturity and commitment to applying the highest standards of governance and transparency established by regulatory bodies in the Saudi market.
The economic impact of the Farm Markets General Assembly's decisions on the retail sector
Decisions made by the general assembly of Al Mazraa Markets of paramount importance, extending beyond the company's internal scope to impact the Saudi retail sector as a whole. Locally, the stability of the board of directors and the formation of specialized committees, such as the audit committee, contribute to strengthening investor and shareholder confidence in the company's financial and operational performance. The retail sector in the Kingdom is undergoing radical transformations and rapid growth in line with the objectives of Saudi Vision 2030, which aims to diversify income sources and enhance the private sector's contribution to the GDP.
Regionally, the Saudi market is the largest in the Middle East, and any stability within its major commercial entities positively impacts its attractiveness to foreign and institutional investment. The new leadership will undoubtedly spearhead expansion and digital transformation plans, enhancing the company's competitiveness amidst evolving consumer behavior and the increasing reliance on e-commerce. These strategic steps will ensure the company maintains and grows its market share, thereby supporting the local economy and creating more job opportunities for Saudi nationals.
