Committee Role:

1. Recommend to the Board the nomination of candidates for the role of Board Member
2. Approve the appointment and remuneration of senior executives directly reporting to the CEO
3. Review and supervise the implementation of succession planning, ongoing development, and training of the Board members, and CEO direct reports
4. Oversee the design of the performance management and remuneration system and its operation, and ensure that remuneration is appropriate and consistent with the company’s culture, its long-term business and strategy, its performance and market competitiveness as well as Talent Retention Strategies
5. Monitor Senior Management performance and oversee the company’s Human Resource policies

Its responsibilities are:

1. To review significant accounting and reporting matters and regulatory pronouncements to understand the potential impact on financial statements
2. To review accounting policies and procedures and ensure that these are as per the requirements of applicable rules and regulations
3. To review internal controls over financial reporting
4. To be responsible for the appointment of external auditors and oversight of the work of the external auditor. It reviews the results of audit with management and external auditors
5. To reviewsproposed audit approaches for internal audits. It reviews and approves the internal audit plan and handles co-ordination of the audit effort with internal audit staff.

• Approve the investment strategy and policy 
• Reviewing the investment strategy and policy regularly to ensure consistency with changes that may occur in the external environment in which the company operates, legislation regulating business, or strategic objectives or otherwise, and recommending to the Board proposed changes. 
• Overseeing company investment activities and establishing appropriate processes for measuring and assessing investment performance. 
• Studying and evaluating the investment opportunities proposed regarding the following transactions and making appropriate recommendations: 
  • Mergers or acquisitions of companies, businesses, or assets. 
  • Any termination, sale, transfer of ownership, exit, or disposition of an existing investment. 
  • Joint ventures 
  • Investment opportunities in new businesses or sector
  • Venture Capital or Private Equity investments 
• Prioritizing investment opportunities 

Moreover, the Sustainability Committee at Alturki is devoted not only to integrate and drive sustainability in our current businesses, but also to ensure that all our future investments are economically, socially and environmentally sustainable. The committee strives to allow Alturki pave the way in sustainability in the Kingdom, and ensure that we set an example in our society where we allow people and corporations to follow our path to alleviate economic, social and environmental positive sustainable impact in our country and the rest of the world.

At the operational level, digital technologies have already allowed us to improve how we market our products, how we run our operations, the way we work, and how we relate to all our stakeholders. 

The secret of our success is having a clear long term vision about the Holding’s digital transformation and then starting any transformation projects with solid business cases. Our leadership is fully committed to deliver on our digital transformation vision and the Alturki’s culture and organisation is constantly evolving to become more agile, more open to experimentation, and more sustainable. 

Of course, technology is at the core of all our transformations.