The Saudi Stock Exchange (Tadawul) announced the results of its Ordinary General Assembly meeting, held on January 1, 2026, during which the Assembly approved the reconstitution of the Board of Directors for a new four-year term. The meeting resulted in the election of Mr. Mazen bin Abdulrazzaq Al-Rumaih as Chairman of the Board and Mr. Yazid bin Abdulrahman Al-Humaid as Vice Chairman, for a term commencing on January 2, 2026, and ending on January 1, 2030.
New Board of Directors Formation
The assembly witnessed the adoption of the list of elected board members, which included a select group of national talents and international experts in the financial and administrative sector, namely:
- Mazen bin Abdulrazzaq Al-Rumaih (Chairman)
- Yazid bin Abdulrahman Al-Humaid (Vice President)
- Rania bint Mahmoud Nashar
- Khalid bin Abdullah Al-Hassan
- Aliyan bin Muhammad Al-Wateed
- Sabti bin Suleiman Al-Sabti
- Xavier Roulette
- Abdullah bin Abdul Rahman Al-Abd Al-Jabbar
- Mohammed bin Talal Al Shamsi
Review Committee and Subcommittees
In order to enhance corporate governance and ensure financial transparency, the General Assembly approved the formation of the Audit Committee for the new term, chaired by Professor Omar bin Mohammed Al-Houshan, with the following members: Abdullah Al-Abd Al-Jabbar, Abdulhameed Al-Muhaidib, Latifa Al-Subaian, and Abdulrahman Al-Barrak. The formation of the Board of Directors' subcommittees was also approved, the Board Secretary was appointed, and the company's representatives to the Capital Market Authority and the Saudi Stock Exchange (Tadawul) were designated for all regulatory purposes.
The importance of the new formation and keeping pace with Vision 2030
This new board of directors for the Saudi Stock Exchange (Tadawul) is of paramount strategic importance, as the current term (2026-2030) coincides with the final and crucial stages of achieving the goals of Saudi Vision 2030. The group plays a pivotal role in the Financial Sector Development Program, one of the Vision's key initiatives, which aims to develop a diversified and efficient national economy.
The diverse backgrounds of the elected board members—ranging from banking leaders and technology and communications experts to figures with experience in global financial markets (such as Xavier Roulette)—reflect a clear commitment to strengthening the Saudi financial market's position as one of the world's leading emerging and developed markets. The board is expected to focus in its new term on expanding the range of investment products, attracting more foreign investment, and enhancing the market's technological infrastructure.
Strengthening governance and compliance
The General Assembly's resolutions included approving the delegation of authority to the Board of Directors with the powers of the Ordinary General Assembly, as stipulated in Paragraph (1) of Article (27) of the Companies Law, for a period of one year. This measure reflects a commitment to the highest standards of corporate governance, as this delegation allows for flexibility in handling business and contracts in which Board members may have an interest, subject to strict controls that ensure integrity and transparency, and in accordance with the Implementing Regulations of the Companies Law pertaining to listed joint-stock companies.
