Saudi Arabian Mining Company (MAADEN) announces the appointment of acting Chief Executive Officer
Saudi Arabian Mining Company (Maaden) announces that, the Board of Directors resolved on 24/6/2018 that Darren Davis, currently the Companys Senior Vice President Finance and Chief Financial Officer, is appointed as acting Chief Executive officer of the Company, effective of 01/07/2018. The Board of Directors expressed their thanks and appreciation to Mr. Khalid bin Salem Al Rowais, for temporarily assuming the role as acting CEO, and for his efforts throughout his many years at Maaden. Mr. Al Rowais, who is unable to continue in an executive capacity for health reasons, will continue serving the Company as a senior executive advisor. Mr. Davis joined Maaden in 2012 following a 20 year banking career, focused in the natural resources and energy sectors. His experience includes corporate finance, mergers and acquisitions, and strategic advisory. At Maaden, Mr. Davis has held several critical roles including leading the Company fund raising program and playing an integral role in establishing some of its key joint ventures. He was appointed CFO in 2016.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
For further information please contact: