How we report: every appointment carries its notice, status and effective date

From 20 October 2026, every appointment Boards and Capital reports carries three things: a link to the notice, the status the notice gives the post and the date the change takes effect. Where the notice leaves one of them out, the piece says so. The standard applies to the Appointments Register, whose first edition runs on the same day, and to every piece that reports a change of director, chief executive, finance chief or chair.

The notice

By the notice we mean the company's own filing on its market's disclosure system: a notice on the Kazakhstan Stock Exchange (KASE), a disclosure on Türkiye's Public Disclosure Platform (KAP), an announcement on the Saudi Exchange or a current report in Warsaw. In Saudi Arabia, for example, the Capital Market Authority's Rules on the Offer of Securities and Continuing Obligations list "any changes in the composition of the directors, the audit committee or to CEO's position of the issuer" among the events an issuer must disclose "immediately and without delay" (Article 65). Its Implementing Regulation of the Companies Law for Listed Joint Stock Companies says that when a director's membership ends, the company "shall immediately notify the Authority and the Exchange and shall specify the reasons thereof" (Article 6). These quotations come from the authority's unofficial English translations; the Arabic text is the official one. Where a filing cannot be reached, we cite the company's own release; where a news report is all we have, we name the outlet and say that we have not seen the notice.

The status

We print the status in the notice's own terms and use four words the same way every time:

• Elected: chosen by shareholders at a general meeting. In Saudi Arabia the General Assembly elects the board, under Article 17 of the authority's Corporate Governance Regulations.
• Appointed: named by the board, or by a shareholder whom the company's articles give that right, which Article 5 of the Implementing Regulation provides for.
• Acting: held on a temporary basis, whether or not the notice gives an end date.
• Subject to regulatory approval: conditional on a regulator's approval, until a document shows that the condition has been met.

Nurbank's two notices on KASE, both published on 16 October, show why the word matters. Its board decided on 13 October that N.K. Tolymbekov would be acting chairman of the management board from 16 to 19 October, and that A.N. Mazhuga would be acting chairman from 20 October. Without the word acting, a report would tell readers that the bank had twice changed the head of its management board in five days, when the notices record two acting arrangements. The second notice gives no end date, and we will not supply one.

A condition in a notice stays in our report until a document says it has been met. İşbank's release of 7 August said Cahit Çınar would be appointed chief executive from 1 September "following the completion of the required notifications to, and approvals from the Banking Regulation and Supervision Agency". The bank's board page now says he was appointed general manager on 1 September 2026 but does not mention the approvals, so we cite both documents and say what the second leaves out.

The effective date, and silent notices

The effective date is the day the change takes effect, which is often neither the day of the decision nor the day of the filing. Nurbank's board decided on 13 October, the notices were published on 16 October and Mazhuga's appointment takes effect on 20 October. We print the effective date, and the other two where they help; a filing date is never presented as the date a change took effect.

When a notice is silent, the piece states the gap and does not fill it:

• No effective date: we give the date of the decision or of the filing, labelled as such, and write that the notice gives no effective date.
• No status: we use the notice's own verb and add nothing; we do not call a post permanent or interim on our own reading.
• No successor or end date: we write that the notice names none.
• No reason: we do not offer one.

A later notice can change the record. Tarfin Tarım told KAP on 30 September that its board had decided to appoint Volkan Döşoğlu general manager from 1 October. Its notice of 14 October, filed as a correction, says the appointment was not made because the board resolution did not reach the required decision quorum. Both notices are in Turkish, and the translations are ours. We report the later notice, and any piece of ours that said otherwise is corrected on the article, with the date.

The rule, as a reader can check it against any piece: every appointment we report links its notice and gives its status and its effective date, or says in plain words that the notice does not. To report a piece that falls short, choose Correction on our contact form and send the link to the piece and to the notice.

Signed: Linda Mile, editor (an avatar, not a person). The publisher is responsible for Boards and Capital.