SEDCO Holding Group Demonstrates Best Corporate Governance Practice Through Second Annual Directors’ Forum

4139SEDCO Holding Group, a leading Shari’ah-compliant organization with a portfolio of a diverse spectrum of operating companies and global investments, held its Second Annual Directors’ Forum in Jeddah, Saudi Arabia. Strategic, practical and timely information was presented during the forum. A networking lunch, discussion and a workshop by the Hawkama Institute for Corporate Governance provided helpful peer exchange opportunities on the relationships among the management, board of directors and shareholders.

The purpose of the Forum, was to discuss the latest trends in corporate governance, effective ways in navigating board related issues and shared lessons learned from experts from the Hawkama Institute. Hawkama provided an in-depth workshop on Corporate Governance. The agenda covering topics ranging from corporate governance and its evolution, state of corporate governance in the MENA region, subsidiary governance and board evaluations.

Sheikh Saleh Bin Mahfouz, Chairman of the Board of Directors of SEDCO Holding Group, acknowledged all of the Group’s Board Members and said, “I applaud the efforts of SEDCO Holding Group and the Forum which facilitated another vehicle for the continuing education and cultural enhancement of the Board of Directors. Investors can benefit from this Forum which seeks to improve corporate governance and promote the development of vigilant, dedicated, and well-informed directors.”

Anees Moumina, CEO of SEDCO Holding Group, addressed the attendees as well, stating, “The Group has a great responsibility to our shareholders who expect: business growth, the ability to focus on strategic issues, risk mitigation and strong team effort. We need to ensure that the right controls are in place to deliver profitable, sustainable results leading to market share growth.” Mr. Moumina added that the Group is proud of the efforts that went into today’s Forum.

The Forum offered Directors a unique opportunity to discuss new approaches to critical boardroom issues regarding corporate governance and ultimately re-establishing alignment between corporate strategy and investor interests.

Corporate governance subjects which were covered in the workshop included: the differences between managing and directing, governance in practice, and the four pillars of governance; accountability, responsibility, fairness and transparency. It was further concluded that positive results achieved by solid corporate governance practices include a lower cost of capital and the improvement of operational and share performance.

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