- Al Muneef Trading establishes Nominations and Remuneration Committee
- Committee to oversee governance and compensation frameworks until 2028
- New committee aligns with Saudi governance regulations and shareholder interests

Riyadh - In a move to enhance its governance practices, Al Muneef Trading, Industry, Agriculture, and Contracting Company has formed a Nominations and Remuneration Committee following a resolution by the Board of Directors. The newly established committee, comprising a blend of internal and external members, is tasked with supervising the company’s governance and compensation structures until the end of 2028.

The decision to create the committee was reached by the Board of Directors on 24 June 2026, aligning with the regulatory requirements for listed companies in Saudi Arabia. This step aims to ensure transparency in leadership appointments and fair determination of executive and board compensation. The committee's tenure began immediately upon board approval and is set to conclude on 12 December 2028, coinciding with the current Board of Directors' term expiration.

Comprising three members, the committee includes Khalid Nasser Murshid Al Muneef Al Hajri as the Chairman, along with external members Nasser Abdullah Mubarak Al Askar and Yousef Abdulrahman Yousef Al Nashmi. The inclusion of external members enhances independent oversight and reduces conflicts of interest, adhering to corporate governance principles. The Nominations and Remuneration Committee holds essential responsibilities under Saudi Capital Market Authority regulations, involving an annual review of board skills, development of qualification descriptions, and formulation of remuneration policies for board members and senior executives.

By formalizing this committee, Al Muneef aims to link internal incentives with long-term strategic objectives and shareholder interests. The company's commitment to regulatory compliance and internal oversight strengthening is evident through this administrative development. As Al Muneef continues operations across multiple sectors, the committee will ensure the integrity of leadership selection processes, providing transparency to shareholders and market participants regarding governance structures guiding human capital and compensation strategies in the upcoming years.

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