Fish Fash Food Factory Company announced the results of the Ordinary General Assembly meeting (first meeting), which was held last Thursday evening, where shareholders approved a number of strategic decisions concerning the future management of the company.
In an official statement published on the Saudi Stock Exchange (Tadawul) website, the company explained that the most significant outcome of the general assembly's vote was the majority approval of the election of board members from among the nominees for the upcoming term. According to the statement, the new board term will begin on March 27, 2026, and will extend for four calendar years, ending on March 26, 2030.
Names of elected board members
The voting process resulted in the selection of a select group of qualified individuals to lead the company in the next phase. The list of elected members is as follows:
- Dr. Waleed bin Abdullah Al-Mahous.
- Professor Yazid bin Abdullah Al-Tamimi.
- Professor Muhammad bin Abdullah Al-Mahous.
- Engineer Najib bin Abdullah Al-Humaid.
- Professor Sulaiman bin Abdullah Al-Mahous.
- Professor Saud bin Abdullah Al-Najidi.
The importance of governance and transparency in the parallel market
This step comes as part of FishFash's commitment to implementing the highest standards of governance and transparency mandated by the Saudi Capital Market Authority for listed companies, whether on the main market or the parallel market (Nomu). The convening of the General Assembly and the election of the Board of Directors are fundamental pillars for ensuring business continuity and the effective participation of shareholders in decision-making, thereby enhancing investor confidence in the company's future performance.
About Fish Fash Company and its market position
Fish Fash Food Factory is one of the most established brands in Saudi Arabia, its name etched in the memories of generations through its corn-based snack products. The company boasts a long history in the local food industry, which has earned it a broad customer base and a stable market share in the snack food sector.
The company’s listing on the parallel market reflects its ambition to expand, increase capital, and develop production lines to keep pace with changes in consumer tastes and competition in the local and regional market.
The food sector and the Kingdom's Vision 2030
This event gains added significance when viewed within the context of the Kingdom's macroeconomy. The Saudi economy places great importance on the food industry sector as part of the Kingdom's Vision 2030 objectives to achieve food security and diversify non-oil revenue sources. The new board of directors is expected to be responsible for developing strategies aligned with this direction, by enhancing operational efficiency, exploring new investment opportunities, and working to improve the quality of national products to compete with imports.
In conclusion, the formation of the new Board of Directors represents a pivotal step to ensure the company’s administrative and financial stability during the four-year term, amidst shareholders’ expectations of achieving rewarding returns and sustainable growth.
