FIPCO elects board members for the upcoming term

Filing and Packaging Materials Manufacturing Co.’s (FIPCO) shareholders have elected board members for the upcoming three-year term starting on Jan. 1, 2019, the company said in a bourse statement.

The new board will include Faisal Muhammed Alharbi, Ahmed Abdullattif Albarrak, Abdullah Muhammed Alharbi, Abdulrahman Ibrahim Almudaimeegh and Nemer Nasser Alharbi.

Shareholders have also approved amending bylaws related to the company management, based on the board’s recommendation to decrease the number of board members to five instead of seven.

Meanwhile, they have also approved amending other bylaws including the company’s objective, preferred stocks, buying, selling and mortgage of the company shares.