{"id":83121,"date":"2024-01-04T00:00:00","date_gmt":"2024-01-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/sarco-chairman-board-member-step-down-as-companys-bottom-line-erodes\/"},"modified":"2024-01-04T00:00:00","modified_gmt":"2024-01-04T00:00:00","slug":"sarco-chairman-board-member-step-down-as-companys-bottom-line-erodes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/04\/sarco-chairman-board-member-step-down-as-companys-bottom-line-erodes\/","title":{"rendered":"Sarco chairman, board member step down as company\u2019s bottom line erodes"},"content":{"rendered":"

Sarco chairman resigns: <\/strong>The Saudi Arabian Refineries Company (Sarco)<\/a> announced the resignation of its chairman, Prince Mohammed bin Khalid bin Turki Al Saud, \u201cfor personal reasons,\u201d it said in a disclosure to Tadawul<\/a> yesterday. It also announced the resignation of board member Fahad bin Abdulrahman Al Muakeel, attributing the resignation to Al Muakeel\u2019s \u201creservation about the company\u2019s work and poor results,\u201d according to a separate disclosure<\/a>.<\/p>\n

Poor results?<\/strong>Sarco reported a 85% y-o-y drop<\/a> in net income to SAR 2.7 mn in 9M 2023, down from SAR 17.2 mn in the corresponding period a year earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sarco has seen net income drop<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2577],"tags":[10,883,882,42,795,881],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83121","post","type-post","status-publish","format-standard","hentry","category-moves","tag-enterpriseam-ksa","tag-fahad-bin-abdulrahman-al-muakeel","tag-mohamed-bin-khalid","tag-moves","tag-sarco","tag-saudi-arabian-refineries-company","wpautop","entry"],"acf":{"mongo_id":"37593576-d1c5-41ad-aabe-0f74ecdb4348","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Sarco chairman, board member step down as company\u2019s bottom line erodes","related_issue":[83104],"teaser":"Sarco has seen net income drop","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.b2d3b0ee-8325-4b7d-bd6e-81ca36b96ea3.mp3"},"yoast_head":"\nSarco chairman, board member step down as company\u2019s bottom line erodes - 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