SAMI shakes up board

Defence conglomerate Saudi Arabian Military Industries (SAMI) announced the restructuring and expansion of its board of directors during an extraordinary general assembly meeting on 18 May.

As a result of the meeting, the company has expanded its number of board members from nine to 10. New members admitted to the board include General Abdulrahman bin Saleh Albunayyan, Dr Khaled bin Hussain Albiyari, Engineer Mosaed bin Sulaiman Al-Ohali, Mazen bin Ahmed Al-Jubeir, and Yasir bin Abdullah Al-Salman. Ahmed bin Aqeel Al-Khateeb has retained his role as chairman of the company’s board.

SAMI has significantly restructured its board, adding a seat and replacing four previous members. (SAMI)

The restructure also resulted in the departure of Prince Faisal Bin Farhan Al Saud, Michael Cosentino, Giuseppi Giordo, and Philip Yeo.

“We congratulate the company for restructuring its board, and we welcome its new members in their roles, to whom we wish every success,” Al-Khateeb said in a statement. “We also thank the former board members for their hard work and efforts during a period of significant accomplishments. We would like to renew our commitment to all our customers and stakeholders that we will continue our journey of achievements and that the board will make every effort to ensure the company’s success in supporting the localisation of more than 50% of Saudi Arabia’s military spending by 2030.