Tabuk Cement Company, Saudi Arabia's publicly listed cement manufacturer, has appointed Tariq Al-Anqari as chairman of its newly formed audit committee, marking a significant governance strengthening at the company as it grapples with recent revenue headwinds. Al-Anqari, who simultaneously serves as vice chairman of the board, brings two decades of technology and infrastructure experience to the role. The appointment was approved by the board on January 26, 2026, alongside a broader governance restructuring that constituted multiple board committees including the nominations and remunerations committee and an executive committee.
The governance move comes as Tabuk Cement, listed on the Saudi Exchange under ticker 3090, seeks to enhance its board-level oversight during a period of operational challenge. The company's net sales revenue declined 20.05 percent in the third quarter of 2025, while total assets contracted 11.69 percent over the same period, according to recent financial filings. The company appointed Yazid Al-Shathri as chairman and formalized a broader board structure that reflects emphasis on independent oversight. Al-Shathri previously served as chairman and continues in that role alongside the newly constituted committees.
Al-Anqari, a seasoned technology and telecommunications executive, brings substantial board-level expertise in governance and risk management. He currently serves as president of Lenovo's Middle East, Türkiye, and Africa (META) region, a position he has held since January 4, 2026, with responsibility for operations spanning over 60 countries across three continents. Prior to joining the technology giant, he spent nine years at e& Group, where he most recently served as chief executive officer of e& enterprise Saudi Arabia, establishing and scaling the digital infrastructure business into a leader in cloud services, artificial intelligence, cybersecurity, and fintech solutions. He holds over 25 years of cumulative experience spanning technology, telecommunications, cloud infrastructure, and digital platforms across regional and international markets. His educational background includes studies at INSEAD, the French international business school.
Tabuk Cement, established in 1994, is one of Saudi Arabia's major cement producers, manufacturing ordinary Portland, blended hydraulic, pozzolana, and sulphate-resistant cement products. The company operates production facilities within the Neom District, approximately 220 kilometers from Tabuk City, and employs roughly 410 people. As a Saudi joint stock company listed on the Saudi Exchange since August 1994, Tabuk Cement operates within the kingdom's stringent governance and regulatory framework. His Royal Highness Prince Fahd bin Sultan bin Abdulaziz Al Saud, Emir of Tabuk Region, serves as the company's honorary president. The manufacturer serves both domestic and regional markets, with distribution networks across the Gulf Cooperation Council states.
Al-Anqari's appointment to the audit committee chairmanship reflects broader confidence-building efforts by the board at a company experiencing margin compression and reduced asset values. As a technology executive accustomed to managing complex governance structures across multinational operations and as a board member with demonstrated expertise in risk mitigation and capital allocation, Al-Anqari's presence on the audit committee could be interpreted as the board's attempt to inject outside disciplinary oversight during a period of financial stress. His simultaneous role as vice chairman indicates the company is consolidating governance authority among experienced operators. Whether this positioning enables sharper cost controls, supply chain optimization, or strategic repositioning at Tabuk Cement will likely become apparent in coming quarterly results and board disclosures. The appointment appears designed to signal to investors that the company is actively strengthening its internal controls and risk management infrastructure.
