ASG Plastic names independent board member to lead audit committee

The company said the reshuffle aligns with corporate governance practices for audit committees. The new committee will serve until the current board term ends on 2 December 2027, overseeing financial reporting and internal controls with a focus on compliance.

The move follows the Capital Market Authority's approval of ASG Plastic's plan to double its capital to SAR 141 million from SAR 70.5 million. With a new oversight structure and a larger capital base, the company enters a period that will test its reporting and control frameworks.

The committee's next scheduled meeting is before the end of the third quarter.