The Saudi Electricity Company won the Corporate Governance Centre of Alfaisal University’ gold medal for being among the nine best governed corporations outside of the finance line traded on Saudi financial market Tadawul.
Faisal Al-Lazzam, the company’s senior vice president for Legal Affairs and secretary of the Board, received the honorary shield on behalf of the company from Dr Mohammed Alhayaza, the university’s president.
The honouring, which took place on the sidelines of the first International Corporate Governance Conference in Riyadh, was attended by Mohammed Elkuwaiz, chairman of the Capital Market Authority.
“Our governance code is the basis on which the company gauges and improves its performance,” said Al-Lazzam.
“The company makes it a point to spread a culture of governance to entrench the principles of fair play and transparency in statistics and other data, which helped to perfect the relationship between the company’s board of directors and executive management, preserve investors’ rights, adopt best practices, uprate the company’s internal codes, and ensure compliance with those codes.”
