Riyadh, Saudi Arabia -– Saudi AZM for Communication and Information Technology Co. has approved the appointment of Omar bin Fahd Al-Sunaidi as an independent member of the Board of Directors.Â
His term, effective from July 6, 2023, will extend until the end of the current board session on June 21, 2026. This appointment follows the departure of the previous member, Firas bin Khaled Al-Jariwi.
The decision was made at the firm’s Fourth Ordinary General Assembly meeting.
Key outcomes from the meeting included the review and discussion of the Board of Directors Report for the fiscal year ending on June 30, 2023. The assembly approved the External Auditors Report for the same fiscal period, underscoring the company’s commitment to transparency and accountability.
The assembly also approved several business contracts and agreements, indicating the company’s strategic direction for the coming years. Notably, agreements with AZM Financial Technology Company and AZM Digital for Communications and Information Technology were confirmed, involving services valued at 34,464,295 and 96,581 Saudi Riyals, respectively, for the year 2023. The Future of Communicate for Communications and Information Technology Company also entered a significant agreement valued at 66,367 Saudi Riyals.
Furthermore, the company has engaged with Business Innovation Mine and Itmam Consultancy Company for project management services, reflecting a continued investment in innovative solutions and consultancy expertise.
The assembly concluded with the appointment of PricewaterhouseCoopers (PwC) as the auditor for the Company’s 2024 fiscal year, following the Audit Committee’s recommendation. This move is expected to enhance the company’s financial oversight and reporting standards.