Riyadh - Mubasher: Alghaz Waltsnae Company Eligibility Alqabida, known as GASCO Holding, has formally announced the passing of its Chairman of the Board of Directors, Abdulaziz bin Fahad Al Khayal.
The announcement, released through a regulatory filing on the Saudi Exchange (Tadawul), confirmed that the Chairman passed away on Thursday, 25 June 2026.
The company expressed its profound condolences to the family of the deceased while outlining the forthcoming administrative procedures required to address the vacancy in its senior leadership.
Al Khayal was a central figure in the governance structure of GASCO Holding, serving in multiple high-level capacities that influenced the strategic direction of the firm.
Beyond his primary role as the Chairman of the Board of Directors, Al Khayal held the position of non-executive member.
His involvement extended deep into the company’s internal oversight and strategic planning frameworks, as he also served as the Chairman of the executive and investment committee.
This committee is typically responsible for overseeing the company’s capital allocation, long-term investment strategies, and the execution of major corporate initiatives.
In addition to his leadership of the Executive and Investment Committee, AlKhayal was an active member of the Remuneration and Nominations Committee.
This specific body plays a critical role in the corporate governance of listed Saudi entities, as it is tasked with recommending board appointments and setting the compensation structures for senior executives and board members.
His presence on this committee underscored his influence on the organizational culture and the long-term human capital strategy of GASCO Holding.
The Board of Directors and the employees of GASCO Holding issued a collective statement of mourning, acknowledging the loss of a leader who was integral to the company’s operations.
The disclosure emphasized the deep sorrow felt across the organization and offered prayers for the deceased and his family. The tone of the announcement remained strictly formal, adhering to the traditional protocols for such corporate disclosures in the Kingdom of Saudi Arabia.
From a regulatory standpoint, the death of a board chairman necessitates specific procedural steps to ensure the continuity of governance and compliance with the Capital Market Authority (CMA) and the Companies Law. GASCO Holding has signaled its awareness of these requirements by stating that it will provide further updates regarding the appointment of a new Chairman in due course.
