The Arab Internet and Communications Services Company (Solutions), a leading enabler of digital transformation in the Kingdom of Saudi Arabia, announced significant decisions regarding the restructuring of its leadership for the upcoming term. At its meeting held yesterday, Wednesday, the Board of Directors appointed Eng. Riyadh bin Ali Muawad as Chairman and Eng. Haitham bin Mohammed Al-Faraj as Vice Chairman.
According to the official statement issued on the Saudi Stock Exchange “Tadawul” website on Thursday, this new term of the Board of Directors will begin on December 22, 2025, and will last for four calendar years, ending on December 21, 2029. This step comes within the framework of strengthening governance and ensuring the continuity of the company’s strategic leadership.
Forming the committees emanating from the Board of Directors
The meeting also saw the approval of the formation of the main committees that will undertake the tasks of oversight and strategic guidance during the next session. The formation was as follows:
- The Executive Committee: Its members include Riyad Muawad, Haitham Al-Faraj, Muhammad Al-Abadi, Fahd Al-Mansour, and Fahd Aba Al-Khail.
- Nominations and Rewards Committee: Headed by Fahd Aba Al-Khail, and includes as members Mu’adhd Al-Ajmi, Muhammad Al-Abadi, and Ahmed Al-Ghamdi.
- Investment Committee: Chaired by Riyadh Muawad, with members Mu'taz Al-Anqari, Fahd Al-Mansour, and Ali Al-Harbi.
- Review Committee: Abdul Latif Al-Saif was appointed as its chairman, and the members are Mu’adhd Al-Ajmi, Ali Al-Harbi, and Abdullah Al-Anzi.
During the meeting, the Board Secretary was appointed, and the company’s representatives to the Capital Market Authority, the Saudi Stock Exchange Group, and the Securities Depository Center Company were named, to ensure full compliance with the executive regulations.
Context of the event and Solutions' position in the technology sector
These appointments are particularly significant given Solutions' pivotal role in the Kingdom's ICT sector. As the technology arm of stc Group, the company leads the digital transformation efforts of both the public and private sectors, leveraging its robust infrastructure and accumulated expertise. The selection of highly experienced leaders like Riyadh Muawad and Haitham Al-Faraj reflects the company's focus on accelerating its growth in cloud computing, cybersecurity, and the Internet of Things.
Alignment with the Kingdom's Vision 2030
This administrative restructuring comes at a time when the Saudi economy is undergoing radical transformations driven by Vision 2030, which places the digital economy at the heart of its objectives. Leading companies like Solutions play a crucial role in achieving the Vision's goals by localizing technology and building national digital capabilities. The administrative stability within the board of directors is expected to accelerate the implementation of major strategic projects and enhance the company's attractiveness to local and international investors, especially following the significant success of its initial public offering (IPO) in recent years.
