Kpc Faces Uphill Task As Terms Of Boards Of Directors In Oil Companies Expire Feb 3

The terms of the Board of Directors of the oil companies affiliated with the Kuwait Petroleum Companies which expire February 200 are expected to be extended.

Al-Rai learned has learned there is a tendency to extend the terms of the boards of directors and the members have been informed of this decision but there has been ‘no response’ so far.

The sources say this approach will give the new CEO and the KPC’s Board of Directors sufficient opportunity to restructure the boards of directors in all oil companies, and said many members have no intention of continuing, which will constitute a new challenge for the mother company.

The sources pointed out that the term of the boards of directors of the oil companies ends on February 3, and then the KPC will have to take its final decision, especially since these boards adopt important decisions and projects in the affiliated companies in the implementation of the corporation’s strategy.

 

SOURCE  :   TIMES KUWAIT

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