Savola : announces the appointment of the Chairman of the Board and form the new Board's committees for the new office term

Savola Group announces that its Board of Directors; which was elected for the new office term based on the resolution of the General Assembly Meeting held on 19/04/2016 That was announced on the Saudi Stock Exchange (Tadawul) on 20/04/2016; held a meeting on Thursday 23/06/2016, and approved the appointment of Mr. Sulaiman A. Al Muhaidib as the Chairman of the Group's Board In addition, it formed the new Board's committees. This resolution shall become effective as of 01/07/2016 and for a period of three years. In this regard, the Board members of the new office term wished the Chairman all the success and blessing in his responsibilities and the mandate assigned to him.

It is worth mentioning that Mr. Sulaiman Al Muhaidib is one of the well-known leaders with excellent and successful leadership competencies, as well as holding the chairmanship position of the Group for the period from August, 2010 till the time being. He also holds many leadership positions in number of companies and institutions, most notably his chairmanship of Abdulqader Al Muhaidib & Sons Group of Companies. In addition to his membership on the board of some banks and joint stock companies that operate in the field of industry, trade, contracting and water & energy.