Savola Group bags the Golden Peacock Global Award for Excellence in Corporate Governance


December 23, 2014 | By RetailME Bureau

The board of directors of Saudi Arabia-based Savola Group celebrated winning the Golden Peacock Global Award for Excellence in Corporate Governance from the International Awards Management. The award was presented at the 14th London Global Convention by the British home secretary, Theresa May. Savola was the only company from the Middle East to be selected for the Award for Excellence in Corporate Governance among 283 companies from around the world including private and public organisations that applied for the Corporate Governance and Sustainability Award for the year 2014.

Commenting on the group’s achievement, Sulaiman Al-Muhaidib, chairman of the board, congratulated all the shareholders and employees of Savola’s. He also thanked all shareholders for their continuous support, and the board of directors and executive management for their leadership and managing of Savola’s operations and maintaining the best standards of corporate governance.

“The Savola Group adopted corporate governance standards since 2003, believing in the importance of governance and transparency for shareholders, investors and the financial market and the role it provides in protecting the rights of all stakeholders,” says Mohammed Abdul Kader Al Fadel, head of remuneration, nomination and governance committee. “The Savola Group has been ranked first in Saudi Arabia and second in the Arab world in the field of corporate governance and transparency, according to an independent study conducted by Standard & Poor’s and Hawkamah Institute for Corporate Governance in Dubai back in 2011 for its excellence and high standards of application of corporate governance. All of these achievements will only put more challenge on the group to move forward in adopting global standards and best practices.”

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the 

Continue Reading

January 17, 2021 | By RetailME Bureau
Cookit

Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created 

Continue Reading

January 5, 2021 | By RetailME Bureau
Al Islami Plant-Based Burger

UAE-based Al Islami Foods, one of the largest frozen food companies in 

Continue Reading

January 3, 2021 | By RetailME Bureau
Marks & Spencer's plant-based range

Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free 

Continue Reading

December 23, 2020 | By RetailME Bureau

World’s largest fully integrated online brand in fresh fish and meat e-commerce 

Continue Reading

December 14, 2020 | By RetailME Bureau




Download Images RetailME Magazine