WINNER
Corporate Governance AAGH has an internal well adapted Corporate Governance framework that strategically reflects to the management, departments and staff interactions and has a vital effect on the long term development and sustainability. This aspect is particularly pertinent to family owned, private companies such as AAGH, which is an embodiment of the success of different generations and a multitude of family members. To ensure the next wave of sustainable growth, AAGH laid a strong foundation of an institutionalized corporation. With the engagement of leading specialists, and successfully adapted and adopted a governance framework that is at par with international best practices. The model draws the line between ownership and management and separates policy direction from the dayto-day running of the Group. On the subsidiaries level, a special boards have instituted for all major subsidiaries, and introduced independent external members for better governance. On the holding-level, the group board also includes independent directors. This additional yet important layer, works as a safe guard and ensures compliance across strategy, operations and finance. Each of the boards has created special committees to whom they delegate implementation initiatives, ensure a sound level of risk management and consistently strive for best practices. All these proactive efforts and foresight has created a solid organizational structure that embeds accountability, promotes transparency, and ensures that all the people work in a cohesive and efficient manner towards a shared goal.
Corporate Social Responsibility AAGH implements initiatives that build the social fabric of society into one which is strong, unified and compliant with teachings of Islam; and the late Sheikh Abdullatif Alissa also
ACQ 151 GLOBAL AWARDS 2013
set up the Abdullatif Alissa Charity Foundation which is engaged in charitable and philanthropic activities. A dedicated CSR unit with a detailed five year plan and well-planned programs, which also collaborates with all operating subsidiaries in delivering innovative and beneficial initiatives targeted at raising social standards. Initiatives at AAGH CSR, work closely with the Human Resources Development Fund and do the group part in the Saudization of the staff. The Alissa Center for Training and Development in collaboration with Saudi Vocational Training Organization, trains people with special needs and helps rehabilitation of Saudi youngsters. All group subsidiaries work closely with charity establishments across the Kingdom to provide them with discounted prices and bonus services.
Evolving Human Capital One of the strategic assets that truly define AAGH is its Human Capital. AAGH success lies in its proactive senior management and visionary leadership who truly understand the potential of this asset and have created a platform driven by merit and passion. It is a belief in the group that with more than 3,000 people is what has set up apart for the six decades. The diversity of cultures and nationalities with the mix of highly skilled and specialized people makes a unique difference in the final deliverables to customers from one side and the financial results at multiple business sectors. Saudization is a primary strategic initiative for the group and its subsidiaries. Work force diversity and embracing best practices to empowering professionals will help evolving AAGH operations and drive results, and sharing in the same time the national company to maintain stability. This is a philosophy that the group is keen to maintain and keep in building it.