UAE. The GCC Board Directors Institute (“BDI”), the pre-eminent organization for boards and directors in the Gulf, conducted an exclusive video interview with Investcorp’s President Gulf Business, Mr Mohammed Al Shroogi on the importance of Corporate Governance for Investcorp and the value of independent board members.
Investcorp is the leading provider and manager of alternative investment products, and a founding member of BDI.
Mr Al Shroogi, Investcorp's President Gulf Business, and member of the Board of Governors of BDI, said: “Whether driven by regulators or from within, for family and corporate businesses alike, a strong framework is necessary. It has always been paramount for Investcorp because of the nature of our work, in order to mitigate risks, whilst enabling timely decision making and ensuring full accountability to our shareholders and investors.”
He added: “As at June 30, 2014, Investcorp had $11.4 billion in total assets under management and about 40 companies in our portfolio, employing around sixty thousand employees. To have this quantity and quality of companies in our portfolio, we have to adhere to a rigorous governance process, unique for each one, both during and post acquisition.”
Investcorp’s President affirms that strong corporate governance has been one of the company core principles, since its inception: “It is in our DNA, Investcorp’s DNA.” He encourages other organizations to also make it part of their DNA.
He also commented on Board matters: “Board composition forms part of a strong governance framework, and is critical for a business’s success. Each member of the Board must be trained and it is important that there are independent board members appointed. We see independent board members as both mandatory and complimentary to the board. Like a CEO and a Chairman, the value they bring to an organization is significant, and their contribution extends well beyond the obvious benefits.”
The video interview was conducted by Nathalie Potvin, Executive Director of BDI. She commented: “Matters of the board are key to any business and form part of robust corporate governance framework.
"Since its inception in 2007, BDI is proud to have delivered over 35 workshops for senior board directors. Strong governance will protect companies and its stakeholders on all fronts at all times. We in fact also recommend that companies have at least one independent board member in place, as independent board members are proven to improve a company’s health and performance, without any conflict of interests. They are a valuable asset to any board.”
To view the full interview (10.21 minutes), please follow this link to access BDI’s youtube channel:
You can also download the interview at the “We Transfer” link provided below:
About the GCC Board Directors Institute (“BDI”)
BDI is the pre-eminent organization in the GCC for boards and directors. It was launched in 2007 by a combination of four leading regional corporations: Investcorp, SABIC, Saudi Aramco and Emirates NBD; four leading advisory firms: Allen & Overy, Heidrick & Struggles, McKinsey & Company and PricewaterhouseCoopers; and with the support of regional regulatory authorities: the Emirates Security and Commodities Authority of the UAE, the Capital Market Authorities of both Saudi Arabia and Oman, the Central Bank of Bahrain and the Qatar Financial Centre Regulatory Authority.
The Institute’s mission is to make a positive impact on the economies and societies of the region by promoting professional directorship and raising the level of board effectiveness. Its main objectives are to:
• Enhance GCC board member capabilities and further their understanding of best practice board governance;
• Create a regional network of board members;
• Disseminate high quality corporate governance knowledge;
• Put corporate governance higher on the region's agenda.
BDI has delivered over 35 workshops for senior board directors and counts over 500 members who, through their membership in the Institute, have gained access to an exclusive network of like-minded board directors and business leaders.
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in the Kingdom of Bahrain, New York, London, the Kingdom of Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at June 30, 2014, Investcorp had $11.4 billion in total assets under management.
Further information, including our most recent periodic financial statements, which details our assets under management, is available at www.investcorp.com.