Riyadh – Mubasher: Fad International Company unveiled the reorganization of its board of directors following the resignation of its Chairman, Mohammed Abdulrahman Momenah, according to a bourse disclosure.
The transition was formalized during a board meeting on 24 May 2026 after a regulatory decision was issued by the Appeal Committee for Resolution of Securities Disputes that prohibits the outgoing Chairman from holding positions in entities supervised by the Capital Market Authority (CMA) for a period of one year.
Momenah served as an independent member and the Chairman of the board at Fad International from 26 May 2025 until the resignation was submitted and took effect on 21 May 2026.
To maintain governance stability and strategic continuity, the board approved the appointment of Ayman Tariq Jamal as the new Chairman of the board as an independent member, effective 24 May 2026
In a concurrent move, the board also approved the appointment of Nafiz Riyad Al Morhabi as the new Vice Chairman of the board, effective as well on 24 May.
These appointments are part of the company’s efforts to maintain a robust oversight structure following the sudden departure of its previous head.
