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· GCC Board Directors Institute (BDI) 3rd Chairman Summit held in Riyadh
· Attracts more than 60 chairmen and CEOs from leading organisations across the Gulf
Riyadh, Saudi Arabia - 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.
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 GCC Board Directors Institute (BDI) in Riyadh in partnership with Investcorp.
Mohammed Al Shroogi, Co-CEO of Investcorp and BDI chairman, commented: "In an uncertain world of globalization, 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 organizations 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.
Panelists included Dr. Saleh Alawaji, chairman of Saudi Electricity Company; Dr. Abdullah AlAbdulGader, chairman of Saudi Telecom Company; Abdulaziz Al Judaimi, chairman of Petro Rabigh; Patrick van Daele, country chairman - Saudi Arabia of Shell; Dr Abdullah El Kuwaiz, chairman of the international advisory board of ACWA Power; and Walid Abukhaled, CEO - Saudi Arabia, Northrop Grumman.
BDI is the pre-eminent not for profit institute in the Gulf focused on helping boards become more effective so that organizations may perform better and grow.
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About the GCC Board Directors Institute (BDI)
Launched in 2007, the GCC Board Directors Institute (BDI) is a not-for-profit organization that guides board directors of organizations, from family-owned business to listed companies, to acquire the know-how and the tools to reach and sustain effective governance.
BDI is founded by four leading regional corporations - Investcorp, SABIC, Saudi Aramco and Emirates NBD - and it is supported by five advisory firms: Allen & Overy, Heidrick & Struggles, McKinsey & Company, PricewaterhouseCoopers and Hill+Knowlton Strategies, as well as regional regulatory authorities: the Emirates Security and Commodities Authority of the UAE, the Capital Market Authorities of both Saudi Arabia and Oman, the Central Bank of Bahrain and the Qatar Financial Centre Regulatory Authority.
BDI now works with over 550 members who benefit from a network of business leaders and a variety of workshops designed for senior directors. Notably, the Institute hosts an annual Chairman's Summit that brings together regional leaders and actors to explore the evolving role and value of boards as well as appropriate corporate governance standards.
Today the Institute is globally recognized and the only Directors Institute from the region to be admitted to the Global Network of Directors Institute.
We encourage you to visit the Institute's website at www.gccbdi.org to learn more and get involved with the BDI. Or, write to us directly at: getinvolved@gccbdi.org
For media inquiries:
Mira Alrabi, Director, Marketing & Communications
GCC Board Directors Institute
Email: mira.alrabi@gccbdi.org
© Press Release 2015
