Saudi Airlines Catering corporate governance honored for 2nd year

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SAUDI Airlines Catering Company received a prestigious award at the annual Corporate Governance Conference, organized by the Corporate Governance Center at Alfaisal University - College of Business, in collaboration with the Capital Markets Authority, the Saudi Arabia General Investment Authority, and the Ministry of Commerce and Investment. Saudi Airlines Catering Company was ranked second amongst the top five best companies in the Kingdom that scored highest according to the Corporate Governance Index (CGI) in which 171 listed companies in the Saudi Stock Exchange participated. This recognition culminates the company's best practice standards in corporate governance.

Wajdy M. Al-Ghabban, CEO at Saudi Airlines Catering Company, received the award during the 2nd Annual Corporate Governance Conference in the presence of high ranking officials from the Capital Markets Authority, the Saudi Arabia General Investment Authority, the Ministry of Commerce and Investment, Harvard University, representatives of the companies listed in the Saudi Stock Exchange, in addition to prominent individuals involved in Corporate Governance from Saudi Arabia and abroad.

Al-Ghabban said: “We are extremely pleased to receive this prestigious award. Saudi Airlines Catering went above and beyond to yield exceptional and consistent performance in Corporate Governance, which greatly benefited our company and contributed to our growth and diversification allowing us to keep up with Saudi Arabia’s Vision 2030.”

He added that winning this admired accolade is a great success for Saudi Airlines Catering Company and is a strong incentive that will encourage the company to strive for higher excellence and greater achievements.

Sultan Albooq, General Counsel and VP for Corporate Affairs at Saudi Airlines Catering Company, said: ”An award as such is considered very important, especially to investors, as it creates solid trust that could only be attained by the transparency that proper Corporate Governance allows for. Abiding by Corporate Governance regulations also helps ensure that the operations of our company are organized without any delay. As the years passed and the results solidified, we became more and more interested to be the leaders in this field and so this award is the result of our hard work and perseverance.”

The Corporate Governance Index at Alfaisal University aims to affirm the necessity to implement sound Corporate Governance practices in line with global standards and the Saudi Vision 2030. Corporate Governance plays a paramount role in economic development, job creation, growing and developing the Saudi market to attract more local and foreign investment. It is also considered a primary element used across markets to identify and evaluate investment opportunities, especially in emerging markets. — SG


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