. SEDCO Holding supported the launch of the second phase of the Mudara IoD Director Development Program, the first part of which was successfully concluded on Sept. 9-11. The next period is set on Nov. 5-7, 2012. The program is part of SEDCO's efforts to promote the development of corporate governance as key to the stability and sustainable growth of companies and markets in the region, and family owned businesses in particular. The program focuses on the principles of corporate governance and a review of best international practices, and implementation in the private sector. The program will also cover the tools for building effective Boards, including the composition of the Board, its structure, committees, and governing procedures. The program also highlights the importance of evaluation. The first two modules included active involvement of the participants in advancing their knowledge of the foundations of corporate governance and the role of effective board members, shedding light on procedures and decision making, steering the company towards its strategic goals, and shaping of short and long term vision. Dr. Adnan Soufi, CEO, of SEDCO Holding, noted that the workshops enrich the participants knowledge in corporate governance and support our efforts to embed corporate governance principles and requirements within the Group in order to achieve harmony in terms of authority, tasks, and responsibilities between the board, executive committee and senior management team, and related systems and operational procedures and regulations. Owned by the Bin Mahfouz family, SEDCO is committed to best corporate governance practices across the various entities within the group and investee companies. Adoption of these best practices and the move towards institutionalization of the business is to meet the requirements of the evolution of the business and expansion of its activities. Hawkamah and Mudara IoD with their professional team, are our partners on this journey with their mission to promote corporate governance in the region including the independent directors certification. Last year, Mudara IoD graduated the first batch of accredited directors, which is considered a major development for the region and the Saudi market.” – SG
