Published: Aug 27, 2014
Source: Tadawul


Email this story Print this page zoomin zoomout

Red Sea Housing Company announces the appointment of three board members and reformation of the committees

During its meeting that was convened on Tuesday 26-08-2014 corresponding to 30-10-1435 to discuss the Agenda items, the Board of Red Sea Housing Services Company has approved the appointment of three Board Members in accordance with Article (17) of the Company By-law, which was amended through the Extraordinary General Assembly convened on 24-04-2014 corresponding to 24-06-1435.

The newly appointed Members of the Board are:

1-Mr. Saleh Mohammed Binladen (Independent). He has a degree in Business Administration from Bournemouth International College. Mr. Binladen has extensive experience that exceeds 34 years in the field of project management and driving companies performance, which he has gained through the different managerial and executive roles he occupied throughout his working career. In addition to being the General Manager of Project Management & Development Company, he serves as a Board Member in a number of distinguished companies, such as Saudi Binladen Group, Makkah Construction and Development Company, Knowledge Economic City, and Ports Development Company.

2-Mr. Joseph John Vecchiolla (Executive). He has a degree in Corporate Law and Finance. Mr. Vecchiolla gained extensive experience that surpasses 32 years in the areas of Sales & Marketing, Field Operations, Finance, Supply Chain Management and Logistics, and M&A. In addition, he contributed in developing a number of North American companies specializing in the field of manufacturing prefabricated housing units and others. Through his working career, he managed to harness the required human resources in companies to develop their production lines, productivity and performance.

3-Mr. Waheed Ahmed Shaikh (Non-Executive). He has earned a degree in Mechanical Engineering and Masters in Business Administration. In his early career, Mr. Shaikh occupied a number of positions in Shell Company and became Retail Manager before leaving Shell in January 2000. He joined Dabbagh Group in February 2000 as CEO of one of its JV company Advanced Petroleum Services Limited (APSL). On successful completion of his assignment in APSL, Mr Shaikh was promoted to the position of Chief Operating Officer in Dabbagh Group in 2006. Mr. Shaikh has served as a Board Member in Red Sea Housing from 2006 till early 2014.

This appointment is not considered final, and will be recommended at the earliest convened AGM for approval.

Based on the recommendations of the Nomination and Compensation Committee, the Board has also approved the reformation of the Committees as follows:

Executive Committee:

1-H.E. Mr. Amr Al Dabbagh (Chairman)

2-Dr. Ibrahim Al Madhoun

3-Mr. Don Brown Sumer

4-Mr. Mohamed Jazeel

5-Mr. Joseph John Vecchiolla


Audit Committee:

1-Mr. Sami BinMahfouz (Chairman)

2-Dr. Muhammad Ali Ikhwan

3-Mr. Jamal Al Dabbagh

4-Mr. Mohamed Jazeel


Nomination and Compensation Committee:

1-Dr. Ibrahim Al Madhoun (Chairman)

2-Mr. Jamal Al Dabbagh

3-Mr. Don Brown Sumner

4-Mr. Joseph John Vecchiolla 

Middle East Stock Markets

Index Last Change %Change
TASI 5,936.30 +51.31 0.87%
ADI 4,292.50 +26.67 0.63%
DFMGI 3,318.39 +14.19 0.43%
QE 10,371.17 +8.47 0.08%
KSE 5,397.85 -5.85 -0.11%
MSM30... 5,497.050 -16.650 -0.30%
ASE... 2,104.33 +3.20 0.15%

Recent Analyst Actions  >>

Company Price Opinion
Abdullah Al Othaim Markets 125.60 Overweight
The Saudi British Bank 27.30 Strong Buy
Saudi Telecom Co. 68.90 Overweight
Abdul Mohsen Al-Hokair Group 40.50 Overweight
Bupa Arabia for Cooperative 137.60 Overweight

Markets Today Quick Links


Get all the latest updates about the GCC & Global Markets directly to your email