Alturki Holding has adopted an oversight structure that manages wholly owned subsidiaries according to each subsidiary level of performance and maturity. This is how it works:

Company stage

Emerging stage

Intermediate stage

Mature stage

Oversight

VP Assigned from the holding office

Executive committees

Board of Directors

Company stage Oversight

Emerging stage VP Assigned from the holding office

Intermediate stage Executive committees

Mature stage Board of Directors

The holding company has a board chaired by Sheikh Khalid Alturki. The board has also established certain committees such as the Audit Committee, and Remuneration & Nomination Committee.

Board committees

REMUNERATION AND NOMINATION COMMITTEE

The Remuneration and Nomination committee is established to ensure that  reward policies support our performance culture, reflect business affordability and market needs and encourage employee accountability.

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
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AUDIT COMMITTEE

The Audit Committee performs oversight of the financial reporting process, the audit process, the system of internal controls and compliance with applicable laws and regulations.

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.
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Management Committees

Strategic Investment Committee

The Committee is a management committee appointed and chaired by the President who defines its role and responsibilities, tenure and authority. Committee members elected by the Chairman of the Committee. 

The Committee role and responsibilities includes the following: 
  • 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 
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SUSTAINABILITY COMMITTEE

Making our sustainability efforts and communications frequent and clear helps us inspire our employees at all our subsidiaries and embed sustainability into Alturki’s culture. Sustainability at Alturki is primarily led by our Sustainability Committee which overlooks our sustainability strategy and integration roadmap and guides our management and operations to ingrain sustainability throughout our business. The Sustainability Committee safeguards our company’s future by anticipating and mitigating all non-financial risks to ensure that our operational growth is sustained for our employees, community and country for generations to come.

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.

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DIGITAL TRANSFORMATION COMMITTEE

At Alturki, we view digital transformation as a massive business opportunity, not a threat. For Alturki, digital transformation is not about adopting digital technologies per se: it is about transforming and adapting our businesses to the “new normal” created by the co-evolution of digital technology, society and organisations. We see great scope to leverage our significant industrial and service footprint in the Kingdom to develop and deliver more sustainable services and products. Some of our subsidiaries have already started redefining their value proposition to seize these opportunities.

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.

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