Saudi Arabian Military Industries (SAMI), a wholly-owned subsidiary of the Public Investment Fund (PIF), has announced the outcome of its Extraordinary General Assembly Meeting held on Monday 10 May 2021, in the presence of SAMI’s Board representative and Vice-Chairman H.E. Dr. Ghassan Al-Shibl and PIF representative Mr. Omar Abalkhail.
Having completed the legal quorum in accordance with Article 30 of the company’s Articles of Association and having reviewed the assembly’s agenda, based on the results of the vote, the assembly approved all items put up to a vote. This included the amendment of Article 12 of its Articles of Association, increasing the number of board members from nine to ten, and agreeing to restructure the company’s board of directors. This will be effective for a three-year term as of the date of the Extraordinary General Assembly Meeting.
The following is SAMI’s Restructured Board of Directors:
- H.E. Mr. Ahmed bin Aqeel Al-Khateeb, Chairman
- H.E. Mr. Bandar bin Ibrahim Alkhorayef, Board Member
- H.E. General Abdulrahman bin Saleh Albunayyan, Board Member
- H.E. Dr. Khaled bin Hussain Albiyari, Board Member
- H.E. Dr. Ghassan bin Abdulrahman AlShibl, Vice-Chairman
- H.E. Dr. Ghassan bin Ahmed Alsulaiman, Board Member
- Eng. Mosaed bin Sulaiman Al-Ohali, Board Member
- Mr. Mazen bin Ahmed Al-Jubeir, Board Member
- Mr. Abdulaziz bin Abdulrahman Al-Sowailim, Board Member
- Mr. Yasir bin Abdullah Al-Salman, Board Member
On this occasion, H.E. Mr. Ahmed bin Aqeel Al-Khateeb said: “We congratulate the company for restructuring its board, and we welcome its new members in their roles, to whom we wish every success. We also thank the former board members for their hard work and efforts during a period of significant accomplishments.”
“We would like to renew our commitment to all our customers and stakeholders that we will continue our journey of achievements and that the board will make every effort to ensure the company’s success in supporting the localization of more than 50% of Saudi Arabia’s military spending by 2030,” the Chairman of SAMI added.
H.E. Ahmed bin Aqeel Al-Khateeb is the Chairman of the Board of Directors for the Saudi Arabian Military Industries (SAMI). He has held this role since October 2017. He has over 25 years in the financial services and investment sectors, and has particular expertise in establishing, managing and restructuring government and corporate entities. He is known for his ability to drive institutional transformation by achieving results efficiently and effectively through outstanding leadership.
H.E. Ahmed bin Aqeel Al-Khateeb is one of the most important driving forces in the Kingdom today, and his work spans Saudi Arabia’s most critical industrial sectors including the military complex, culture and the arts, foreign direct investment, commerce and others. He was amongst the key architects of the government framework guiding the Kingdom over the next several decades - Saudi Vision 2030 – and currently leads its Quality of Life Program. He also recently led elements of the National Transformation Program 2020.
H.E. Ahmed bin Aqeel Al-Khateeb is a leading voice across the key defense entities of the Kingdom. In addition to his role as the Chairman of the Board at SAMI, he is also the Minister of Tourism and serves as Counsellor for the Minister of Defense, an Advisor to the Secretariat of the Council of Ministers, a member of the Board of Directors for the General Authority for Military Industries (GAMI), and the Military Industries Corporation (MIC), and the Chairman of the Armament Committee. In addition to chairing the Board of SAMI, he also chairs the Saudi Fund for Development. Before assuming the role of the Chairman of the Board of Directors of SAMI, he served as the Kingdom’s Minister of Health and an Advisor to King Salman Bin Abdulaziz at the Royal Court.
Ahmed bin Aqeel Al-Khateeb received his BA in business administration from King Saud University, and subsequently a diploma in Wealth Management from Dalhousie University in Canada.