1. The Board shall, based on its chairman’s nomination, appoint the Company’s chief executive officer (CEO), who may not be a member of the Board, and determine his authorities, recruitment terms and conditions, remuneration and other benefits (in coordination with the nomination and remuneration committee). The Board may also elect a managing director (MD) who shall not be the CEO or general manager of any other company.

2. The CEO shall be responsible for the Company’s management with the necessary authorities to carry out, on behalf of the Company, all the business affairs and actions required to fulfill the Company’s business interest. The authorities entrusted to the CEO shall not be limited save as required by Company’s articles of association or its Board resolutions. Furthermore, the CEO shall assume the following duties:

   a. Carry out and implement the resolutions and general policies adopted by the Board; 

   b. Manage the Company’s affairs, develop its work systems, and follow up their implementation; 

   c. Prepare, develop and present the strategic and operational plans of the Company before the Board for approval, and follow-up on the implementation thereof. 

   d. Prepare the Company’s interim balance sheet and provide the required reports and details to present it to the Board; 

   e. Represent the Company in its relationship with any third party and before any judicial authority by delegation from the chairman; 

   f. Prepare final account statement and present it to the Board; 

   g. Sign on behalf of the Company, within the limits approved by Company’s regulations and the Board resolutions;

   h. Prepare the periodic reports related to the Company’s business progress and present it to the Board;

   i. Sign articles of association of any company incorporated or subscribed for by the Company and represent the Company in all General Assembly and partners’ meetings in the capacity of the Company’s representative as partner; 

   j. Follow-up on the implementation of observations and feedback from the internal auditing division and Auditors of the Company; and

   k. Any other duties assigned by the Board from time to time.