Riyadh - Mubasher: Waja Company has officially announced a change in the composition of its Board of Directors following the resignation of an independent member and the subsequent appointment of a highly experienced industrial leader.
The company confirmed that its board accepted the resignation of Sultan Ahmed Al Mousa and approved the appointment of Majed Abdullah Al Issa as an independent director, effective 2 July 2026. This transition comes as the company continues its current board cycle, which is scheduled to conclude in early 2028.
According to a regulatory filing on the Saudi Exchange, the Board of Directors convened on 2 July 2026 to finalize these leadership changes. The outgoing member, Sultan Ahmed Al Mousa, who served as an independent director since 24 March 2024, submitted his resignation on 30 June 2026.
The company disclosed that his departure was prompted by personal reasons. In its official statement, the board expressed its deep gratitude and appreciation to Al Mousa for his distinguished performance and the valuable contributions he made during his tenure, wishing him continued success in his future endeavors.
To fill the resulting vacancy, the board has appointed Eng. Majed Abdullah Al-Issa as an independent member. His term began immediately upon the board's decision on 2 July 2026 and will extend until the end of the current board session on 23 March 2028. The appointment of Al Issa is seen as a strategic move to integrate extensive executive and technical expertise into the company’s governance framework.
Majed Abdullah Al Issa brings more than 24 years of professional experience to Waja, with a career characterized by leadership roles across various industrial and financial sectors. His expertise spans senior management, investment strategy, business development, and financial analysis.
Furthermore, he possesses significant experience in mergers and acquisitions (M&A) and corporate restructuring.
His professional history includes serving as a CEO, board member, and committee member for several prominent joint-stock companies in the Kingdom.
His previous tenures include leadership positions at Sadr Logistics, Saudi Ceramic Company, Batic Investments and Logistics Trade Co., and the Gas Distribution Company. Beyond these roles, he has gained substantial institutional experience through his work with the Saudi Basic Industries Corporation (SABIC), National Gypsum Company, and the Saudi Industrial Development Fund (SIDF).
The new appointee’s academic and professional credentials are equally robust. Al Issa holds a Master’s degree in Industrial Management from the University of Cambridge and a Bachelor’s degree in Chemical Engineering from King Saud University.
His technical qualifications are bolstered by international certifications, including the Certified Management Accountant (CMA) designation and the Certified Merger & Acquisition Advisor (CM&AA) credential.
In accordance with Saudi corporate governance regulations, Waja clarified that the board’s approval of Al Issa’s appointment is not yet final. The decision will be presented at the next General Assembly meeting for formal ratification by the shareholders. This procedure ensures transparency and aligns with the regulatory requirements governing listed companies on the Saudi Exchange.
The appointment of Al Issa reflects the company's commitment to maintaining a board composed of individuals with diverse and high-level professional backgrounds.
By bringing in a director with a blend of engineering, financial management, and industrial investment experience, Waja aims to strengthen its strategic oversight during the remainder of the current board term.
The company remains focused on its operational objectives while ensuring that its leadership structure remains robust and compliant with national governance standards.
Waja appointed Al Zoman, Al Fahad & Al Hajaj Professional Consulting Company as the external auditor for 2026.
