Agility’s Board of Directors announced today that the company will separate the roles of chairman and chief executive. The move brings Agility into compliance with the new commercial law and the corporate governance regulations set by Kuwait’s Capital Markets Authority (CMA).
The Board named Henadi Al-Saleh Chairperson of the Board of Directors. Tarek Sultan’s title will change to Chief Executive Officer and Vice Chairman of the Board, and he will continue to lead business strategy, operations and organizational development. The change is effective immediately.
“Tarek Sultan has led Agility from a company with $30 million dollars in annual revenue to a business with a turnover of more than $5 billion a year. The company has grown dramatically – financially, geographically, and in its service offerings – under his leadership. Tarek’s decision to assume the role of Vice Chairman and Chief Executive Officer represents his commitment to the business and to the principles of corporate governance that have underpinned its growth,” Agility’s Board of Directors said in a written statement.