The Disciplinary Board at the Capital Markets Authority imposed penalties yesterday against both the former Chairman and the former CEO of ANN Digital Services Holding Company for violating corporate governance rules. 

This follows previous penalties imposed against them for the same violations, for which they were fined by the Disciplinary Board on December 15, 2021.

The Disciplinary Board found both the Chairman and former CEO guilty of several violations, which included failing to perform their designated duties and disregarding the rights of shareholders.

The Disciplinary Board imposed a fine of 10,000 Kuwaiti Dinars on the former Chairman and 30,000 Kuwaiti Dinars on the CEO on November 18, 2024, following prior fines against them for the same reported violations. The previous penalties included a fine of 20,000 Kuwaiti Dinars against the Chairman and his removal from position, as well as a fine of 20,000 Kuwaiti Dinars against the CEO and his removal as well.