Board of Directors Committees
For the best practices of the International Corporate Governance Standards, the Board of Directors has formed the Board committees, the tasks of these committees are in accordance with regulations approved by the Board, these committees issue their recommendations to the Board of Directors to take the appropriate decisions.
The following is an overview of these committees:
Internal Audit Committee
The Internal Audit Committee is mainly concerned of overseeing the integrity of the Company’s financial statements and ensure compliance with legal and regulatory requirements. The Committee also monitors the adequacy of the Company’s accounting and financial reporting, its internal control processes and financial reporting processes. Further, the Audit Committee is responsible for the independence and evaluation of the external auditors it appoints. The Internal Audit Committee consists of two independent board members and one non-executive board member as follows:
- Eng. Amin Abaza– Chairman of the committee.
- Mr. Hussein Al-Kharafi– Member of the Committee.
- Mr. Waleed El Zorba– Member of the Committee.
Corporate Governance Committee
The Governance Committee is mainly concerned with ensuring that the company applies with the governance rules to achieve the best protection and balance between the interests of the company and its stake holders and achieve the highest sustainability for the company. The committee is made up of non – executive board members as follows:
- Dr. Sherif Samy – Chairman of the committee.
- Eng. Osama Kamal – Member of the Committee.
- Mr. Mohamed Ibrahim Kamel - Member of the Committee.
Investment Committee
The Investment Committee is mainly concerned of communicating investment guidelines, and evaluate, approve and monitor existing investments at the group or business unit level. The Committee screens and evaluates ideas and assigns the M&A team with due diligence of the short-listed ideas, while providing guidance and following up throughout the transaction. The committee is made up of non – executive board members as follows:
- Mr. Ibrahim Mahlab– Chairman of the committee.
- Mrs. Heba Nasser Al Kharafi– Member of the Committee.
- Mr. Hussam Mohamed El-Sayed– Member of the Committee.
- Dr. Abeer El Kholy– Member of the Committee.
Nomination & Remuneration Committee
The Nomination & Remuneration Committee is mainly concerned of setting clear policies and standards for employees’ remuneration and review the performance appraisal for the key positions of the company. The committee is made up of non – executive board members as follows:
- Mr. Loay Jassim Al-Kharafi – Chairman of the committee.
- Mr. Adel Al-Alfi – Member of the Committee.
- Mr. Hussam Mohamed El-Sayed– Member of the Committee.