January 2007
Turn around artist
Mukhtar Hasan
Managing partner
Al Barij International
Honorary positions
Chairman: American Business Academy
Director: Gulf Investment Services
Managing director: Gulf Mushroom
Chairman: Muscat Thread Mills
Chairman: First Mazoon Fund
Vice Chairman: Oman Dental College
"I have been involved with a number of these companies in a turnaround situation and it is a part of my obligation to see them through the process," says Mukhtar Hasan.
For example, Hasan got professionally involved with Gulf Mushroom and Muscat Thread Mills to bring about a financial restructuring of these loss-making entities. He has since successfully turned around these companies.
"A well experienced board makes life easier for the company. It gives investors the confidence that the company is in safe hands."
While one is a manager in one's own company, being on the board of another company is a different ball game altogether. "The main role of a board is to manage the CEO and to monitor the performance of the company." With most boards comprising a number of industry leaders it calls for a different set of managerial skills. "Most decisions in a board meeting are taken by consensus or a majority vote leaving little scope for any ego clashes."
With a number of pressing concerns time is always an issue. "At times it is difficult to manage one's time but these are responsibilities that one has to honour and make time for." The process can be quite enriching too.
"It gives you a lot of experience in a number of different businesses, helping one to grow in many ways," says Hasan.
A time to give
Richard Groves
CEO
HSBC
Honorary positions
Chairman : British Scholarships for Oman
Vice chairman (Board of governors): British School Muscat
Board member: Injaz
"I take a personal interest in corporate social responsibility (CSR), the concept of putting back into society" says Richard Groves. Having taken up an honorary role, he is a firm believer in giving it his best no matter what the downside is. "Such roles take up a lot of one's free time as most of the meetings and planning takes place after office hours."
As an organization, HSBC expects its staff to get involved in social work. The bank has identified education and environment as its thrust areas. Having a personal interest in such causes helps him to lead from the front.
Groves believes that it is a call that all executives have to take whether they want to be insular in their working lives or make an effort to reach out and see how other people live and think. The efforts are definitely not without its rewards. "It is a great feeling to see a smile on the face of children whom one has helped," says Groves.
Live and learn
Akbar Habib
CEO
Oman National Investment Corporation (ONIC Holding)
Honorary positions
Deputy chairman: Al Ahlia Insurance
Deputy chairman : National Life Insurance
Chairman : Oman ORIX Leasing Company
Executive chairman (Executive committee): Alliance Housing Bank
Board member: Bahrain National Finance
"I did not have so much grey hair four years back", chuckles Akbar Habib. That was the time when he joined ONIC Holding and got involved with the restructuring of a number of companies. "Our subsidiaries were not doing well. National Life was making losses while Al Ahlia was a mediocre company. ONIC's underlying assets like Oman ORIX Leasing Co and Gulf Warranties were also going through a rough time." He is now proud of their turnaround.
Though being involved with the fortunes of so many companies has been a tough ask, he looks back with a lot of pleasant memories. "I am lucky to have had so many great opportunities to learn. The last four years have been the most rewarding years in my development." And the change has not been limited to his professional life but has left an imprint on his character too. "I look at things from a different perspective as the small things do not matter any more. Overall, it has made me more humble."
Where there is a will
Khalil Alkhonji
Executive chairman
Alkhonji Group
Honorary positions
Honorary Consul of Belarus in Oman
Board member: Muscat Municipal Council
Chairman: Al Jazeera Tube Mills
Board member: Ominvest
Member: Oman LNG (CSR) Committee
Board member: OCIPED
Government bodies, private companies and charitable organisations - Khalil Alkhonji switches roles between these distinct worlds effortlessly. So whether it is attending a meeting at Muscat Municipality, chairing a board meeting at Al Jazeera Tube Mills or representing Belarus in Oman, Alkhonji is equally comfortable in these different roles.
He is candid enough to admit the need for different attitudes. "In government if you wear a massar, in the private sector you wear a kumah. The mentality in the government and business sector is markedly different. However, the gap between the two has been narrowing in the last five years."
Choosing a board or body to be associated with is not an easy job. "There needs to be a match between one's experience and the business of such companies. Secondly, one needs to have a genuine interest in the growth of such companies."
Alkhonji acknowledges his debt to such opportunities. "I am a different person compared to what I was ten years ago. Not only has my knowledge improved, I have also made many more friends and colleagues."
Moreover, being on the board of companies or government bodies empowers one to take care of the interests of groups such as the small shareholders or ordinary citizens. "If you have the willingness to serve your country and companies, you can always take care of the time factor," he signs off.
Turn around artist
Mukhtar Hasan
Managing partner
Al Barij International
Honorary positions
Chairman: American Business Academy
Director: Gulf Investment Services
Managing director: Gulf Mushroom
Chairman: Muscat Thread Mills
Chairman: First Mazoon Fund
Vice Chairman: Oman Dental College
"I have been involved with a number of these companies in a turnaround situation and it is a part of my obligation to see them through the process," says Mukhtar Hasan.
For example, Hasan got professionally involved with Gulf Mushroom and Muscat Thread Mills to bring about a financial restructuring of these loss-making entities. He has since successfully turned around these companies.
"A well experienced board makes life easier for the company. It gives investors the confidence that the company is in safe hands."
While one is a manager in one's own company, being on the board of another company is a different ball game altogether. "The main role of a board is to manage the CEO and to monitor the performance of the company." With most boards comprising a number of industry leaders it calls for a different set of managerial skills. "Most decisions in a board meeting are taken by consensus or a majority vote leaving little scope for any ego clashes."
With a number of pressing concerns time is always an issue. "At times it is difficult to manage one's time but these are responsibilities that one has to honour and make time for." The process can be quite enriching too.
"It gives you a lot of experience in a number of different businesses, helping one to grow in many ways," says Hasan.
A time to give
Richard Groves
CEO
HSBC
Honorary positions
Chairman : British Scholarships for Oman
Vice chairman (Board of governors): British School Muscat
Board member: Injaz
"I take a personal interest in corporate social responsibility (CSR), the concept of putting back into society" says Richard Groves. Having taken up an honorary role, he is a firm believer in giving it his best no matter what the downside is. "Such roles take up a lot of one's free time as most of the meetings and planning takes place after office hours."
As an organization, HSBC expects its staff to get involved in social work. The bank has identified education and environment as its thrust areas. Having a personal interest in such causes helps him to lead from the front.
Groves believes that it is a call that all executives have to take whether they want to be insular in their working lives or make an effort to reach out and see how other people live and think. The efforts are definitely not without its rewards. "It is a great feeling to see a smile on the face of children whom one has helped," says Groves.
Live and learn
Akbar Habib
CEO
Oman National Investment Corporation (ONIC Holding)
Honorary positions
Deputy chairman: Al Ahlia Insurance
Deputy chairman : National Life Insurance
Chairman : Oman ORIX Leasing Company
Executive chairman (Executive committee): Alliance Housing Bank
Board member: Bahrain National Finance
"I did not have so much grey hair four years back", chuckles Akbar Habib. That was the time when he joined ONIC Holding and got involved with the restructuring of a number of companies. "Our subsidiaries were not doing well. National Life was making losses while Al Ahlia was a mediocre company. ONIC's underlying assets like Oman ORIX Leasing Co and Gulf Warranties were also going through a rough time." He is now proud of their turnaround.
Though being involved with the fortunes of so many companies has been a tough ask, he looks back with a lot of pleasant memories. "I am lucky to have had so many great opportunities to learn. The last four years have been the most rewarding years in my development." And the change has not been limited to his professional life but has left an imprint on his character too. "I look at things from a different perspective as the small things do not matter any more. Overall, it has made me more humble."
Where there is a will
Khalil Alkhonji
Executive chairman
Alkhonji Group
Honorary positions
Honorary Consul of Belarus in Oman
Board member: Muscat Municipal Council
Chairman: Al Jazeera Tube Mills
Board member: Ominvest
Member: Oman LNG (CSR) Committee
Board member: OCIPED
Government bodies, private companies and charitable organisations - Khalil Alkhonji switches roles between these distinct worlds effortlessly. So whether it is attending a meeting at Muscat Municipality, chairing a board meeting at Al Jazeera Tube Mills or representing Belarus in Oman, Alkhonji is equally comfortable in these different roles.
He is candid enough to admit the need for different attitudes. "In government if you wear a massar, in the private sector you wear a kumah. The mentality in the government and business sector is markedly different. However, the gap between the two has been narrowing in the last five years."
Choosing a board or body to be associated with is not an easy job. "There needs to be a match between one's experience and the business of such companies. Secondly, one needs to have a genuine interest in the growth of such companies."
Alkhonji acknowledges his debt to such opportunities. "I am a different person compared to what I was ten years ago. Not only has my knowledge improved, I have also made many more friends and colleagues."
Moreover, being on the board of companies or government bodies empowers one to take care of the interests of groups such as the small shareholders or ordinary citizens. "If you have the willingness to serve your country and companies, you can always take care of the time factor," he signs off.
businesstoday 2007
