Editorial by Jane Valls: December 2017 issue

Editorial by Jane Valls: December 2017 issue

Dear members,

I write to you as we close one of the busiest years in the history of GCC BDI. As we celebrate our 10-year anniversary, I’m pleased to say that we’ve now enrolled 1,000 members and conducted over 100 workshops helping to raise corporate standards and board directors education across the region.

This issue of the newsletter is dedicated to ‘board evaluation’ and techniques for measuring the effectiveness of the your board. This month, we bring you exclusive interviews from board members at SABIC, Saudi Aramco and Saudi Telecom Company.

You can also read an exclusive article by Dr. Chris Pierce, CEO Global Governance Services and GCC BDI Faculty member, here: Board Evaluation: An Essential Tool in Developing Board Effectiveness.

The 5th Annual Chairman Summit

In November we conducted our landmark event for the fifth time, the 5th Annual Chairman Summit in Riyadh, on the theme of ‘The World in Transition’ in collaboration with Morgan Stanley.

High profile chairmen from across the GCC and international expert panelists exchanged views on tapping capital markets and driving diversification as the region and Kingdom of Saudi Arabia in particular, undergoes enormous political and economic transition.

The Summit offered an excellent platform for networking and peer sharing as well as a forum for those who will help drive forward the Saudi Vision to discuss how to maximise the opportunities ahead. (LINK)

The GCC BDI Fifth Bi-Annual Survey

The 5th Chairman Summit also saw the launch of GCC BDI’s fifth Bi-Annual Survey. The study, which promotes professional directorship, represents 10 years of corporate governance knowledge and experience in the Gulf.

The report is based on a survey designed by GCC BDI and GOVERN and is based on the GCC BDI Framework for Board Effectiveness. We believe this report provides useful recommendations on how GCC boards can further enhance their effectiveness. We look forward to providing support to companies across the GCC to implement these suggestions. (LINK)

As part of our aim to work closely with regulatory bodies at government level, GCC BDI recently signed an MOU with the UAE International Investors Council (UAEIIC) designed to support the UAE’s economic development in line with UAEIIC’s objectives.

This MOU lays the foundation to strengthen cooperation between the two parties and explore collaborative opportunities to drive higher standards of corporate governance, investment and best practice in business governance.

Newsletter updates

We’ve been working hard on improving our newsletter offerings for our valued members. From this month, you’ll also gain access to the latest news on laws and regulations in the GCC (LINK) through this newsletter, courtesy of our legal content partners Al Tamimi and Company.

Upcoming events and workshops

Our next GCC BDI Alumni complimentary dinner on 20 February 2018 is designed to encourage connections and community among our prestigious network of board directors. Click here to book your free place today.

We also look forward to a busy year ahead for workshops. Just click here for more details on what’s in store for 2018.

Congratulations and celebrations

To top off our year of success, I’m delighted to report that Capital Finance International (CFI.CO) has named GCC BDI the winner of the 2017 Outstanding Contribution to Corporate Governance GCC Award (LINK). According to the judge’s report, our organisation has “successfully adapted a vast array of global best practices to local circumstance and actively supports initiatives that aim to enhance board members’ capabilities – believing, as it does, that enduring success in business can only be sustained through excellence in corporate governance.”

What a fantastic way to end the year and celebrate our tenth anniversary in tandem.

I would like to take this opportunity to thank you all for your support over the years and I look forward to working with you to make the next ten years even better than the last.

I wish you a happy and prosperous new year ahead.

Jane Valls