08 Dec 2021
Appointment and Resignation of Non-Executive Director and Chairman of the Board
The Board of Directors of Vallianz Holdings Limited (the “Company”) wishes to announce the following:
1. The appointment of Mr. Osman Aly Ibrahim Hassanein (“Mr. Osman Ibrahim”) as a Non-Executive Director and Chairman of the Board of Directors of the Company with effect from 8 December 2021; and
2. The resignation of Sheikh AlTurki Abdulaziz Ali A (“Sheikh AlTurki”) as a Non-Executive Director and Chairman of the Board of Directors of the Company with effect from 8 December 2021.
Sheikh AlTurki is the Chairman of Rawabi Holding Company Limited (“RHCL”, and together with its subsidiaries, “Rawabi Group”)), a controlling shareholder of the Company, and he has been the Non-Executive Director and Chairman of the Company since 28 June 2018. Other than his work commitments, Sheikh AlTurki is also involved in other charitable organisations and initiatives. Sheikh AlTurki is stepping down as Non-Executive Director and Chairman of the Company with effect from 8 December 2021, to spend more time on such charitable initiatives.
In his place, Mr. Osman Ibrahim, the Group President and CEO of RHCL, will be appointed as the NonExecutive Director and Chairman of the Company. Mr. Osman Ibrahim joined RHCL in 1989 and has been the Group President and CEO for RHCL since 2009. He plays a vital role in leading RHCL’s strategic development and expansion of its operations. Upon his appointment as Non-Executive Director and Chairman of the Company, Mr. Osman Ibrahim will continue to work closely with and lead the Group in its strategic directions.
The Board would like to express its heartfelt gratitude and appreciation to Sheikh AlTurki for his invaluable
contribution to the Group during his tenure of office.
