Riyadh – Mubasher: Saudi Research and Marketing Group has announced the resignation of its chairman Ghassan Al-Shibl and the appointment of his replacement.
Al-Shibl, who will be succeeded by Abdulrahman Ibrahim Al-Ruwaitie, left Saudi Resesarch and Marketing after being appointed as the Local Content and Government Procurement Commission's chairman, according to a bourse filing on Saturday.
Al Ruwaitie will join Saudi Research after Aseer Trading, Tourism and Manufacturing Company’s board of directors approved his resignation on Friday.
Saudi Research last reported a 46.67% year-on-year rise in net profit during the third quarter of 2018, registering SAR 37.4 million, compared to SAR 25.5 million, while for the nine-month period ended 30 September 2018 jumped 167.79% to SAR 134.7 million from SAR 50.3 million in the same period a year earlier.
By 12:56 pm Saudi time, Saudi Research and Marketing Group’s stock rose 0.12% to SAR 83.60, whereas Aseer Trading's stock shed 0.22% to SAR 9.25.
