Al-Jouf Cement Company, one of the companies listed on the Saudi Stock Exchange “Tadawul”, announced important leadership changes in its Board of Directors, as the Board approved the appointment of Dr. Issa bin Issa Ba’eesa as Chairman of the Board, after accepting the resignation of the former Chairman, Engineer Ahmed bin Mohammed Al-Falih, from his position as Chairman of the Board, while continuing as a member of the Board to ensure the continuity of experience and support for the new management.
Background and details of the decision
According to the official statement issued by the company and published on the Saudi Stock Exchange (Tadawul), Dr. Ba’eesa’s appointment is effective from December 1, 2025, and will continue until the end of the current board term, which concludes on August 5, 2027. This move reflects the board’s confidence in Dr. Ba’eesa’s abilities to lead the company through the next phase, which is witnessing rapid developments in the Kingdom’s construction sector. In addition to his new position, the board also approved Dr. Ba’eesa’s appointment to both the Executive Committee and the Nominations and Remuneration Committee, further strengthening his pivotal role in formulating and overseeing the implementation of the company’s strategies.
The importance of change in the context of Vision 2030
This leadership change comes at a crucial time for the Saudi economy, as the cement sector plays a strategic role in achieving the goals of Vision 2030. With the launch of mega-projects such as NEOM, the Red Sea Project, and Qiddiya, the demand for essential building materials, especially cement, is increasing significantly. Al Jouf Cement Company is a key player in this sector, and its new leadership is expected to enhance its competitiveness, improve operational efficiency, and capitalize on the promising opportunities presented by the Kingdom's urban and economic development. Having a diverse and experienced leadership team at the helm of the company could contribute to the adoption of innovative financial and operational strategies that align with the scale of national ambitions.
Continuity and stability of the Board of Directors
The Board of Directors was keen to ensure a smooth and stable transition of power, as evidenced by the continued membership of Engineer Ahmed Al-Falih, allowing the company to benefit from his extensive experience. In a further step to strengthen the Board's structure, the Board approved the appointment of Mr. Ayman bin Ahmed Al-Jaber to fill the vacant seat, effective immediately and until the end of the current Board term. These appointments will support the company's progress towards achieving its strategic objectives and maximizing value for its shareholders and customers in a dynamic and competitive economic environment.
