The issue of building more effective boards was debated by more than 60 chairmen and CEOs of regional leading organisations at the 3rd Chairman Summit hosted by the BDI in Riyadh in partnership with Investcorp.
Businesses across the GCC are increasingly adopting more rigorous corporate governance standards and are becoming more transparent in their communications to win deeper public trust; and the shift is being driven by chairmen and more professional boards, GCC Board Directors Institute (BDI) said in a release.
The issue of building more effective boards was debated by more than 60 chairmen and CEOs of regional leading organisations at the 3rd Chairman Summit hosted by the BDI in Riyadh in partnership with Investcorp.
Mohammed al-Shroogi, Co-CEO of Investcorp and BDI chairman, said, “In an uncertain world of globalisation, depressed oil prices, and unrest, the role of the chairman is increasingly under scrutiny to set the tone for stability and long term growth of the business.
“By building more effective, professional boards and through adopting the highest standards of corporate governance and transparency in communications, all types of organisations from family-owned businesses to publicly listed companies and state-owned enterprises can bring greater certainty and confidence to their shareholders, while also winning greater public trust.”
The Chairman Summit featured three panel discussions with each focusing on a specific aspect of the role of the chairman: the value of reputation, the chairman’s role in enhancing board effectiveness, and the board’s role in leading companies through change.
Panellists included Dr Saleh al-Awaji, chairman of Saudi Electricity Company; Dr Abdullah al-AbdulGader, chairman, Saudi Telecom Company; Abdulaziz al- Judaimi, chairman, Petro Rabigh; Patrick van Daele, country chairman, Shell Saudi Arabia; Dr Abdullah el-Kuwaiz, chairman, international advisory board of ACWA Power; and Walid Abukhaled, CEO, Northrop Grumman, Saudi Arabia,.
BDI is the pre-eminent not for profit institute in the GCC region focused on helping boards become more effective so that organisations may perform better and grow.
