Tihama’s Chairman resigns; Bargash designated

Tihama’s Chairman resigns; Bargash designated

Riyadh – Mubasher: Tihama Advertising, Public Relations, and Marketing Company announced the resignation of Ibrahim bin Muhammad Al Shabib from his position as the Chairman of the board for personal reasons, according to a bourse disclosure.

Al Shabib, meanwhile, will retain his membership in the board as a non-executive member, as decided during the board meeting on 5 May 2024.

Tihama’s board also decided to delegate Hatem bin Ali Bargash, an independent member, to assume the Chairman position as of 5 May 2024.

It is worth noting that the resigned Al Shabib was designated as the Chairman based on a board decision on 8 November 2023.

During the financial period that ended on 31 December 2023, Tihama incurred net losses worth SAR 32.30 million. The company also generated revenues worth SAR 57 million during the first nine months (9M) of fiscal year (FY) 2023/2024.