Governance and Leadership
Saud serves as the principal investment holding company and promoter of United Saud Group companies. Each Saud company operates independently under the guidance and supervision of its own Board of Directors.
Governance Philosophy
The Saud philosophy of management emphasizes that corporate enterprises must be managed not just in the interests of their owners, but equally for the benefit of employees, consumers, local communities, and the nation as a whole.
Key principles of our Governance Philosophy:
- Fair, transparent, accountable, and ethical management to protect the interests of all stakeholders, including shareholders, employees, customers, vendors, regulators, and society.
- Compliance with laws in letter and spirit while promoting ethical business norms across group companies.
- Building sustainable and resilient enterprises in a rapidly evolving and interdependent global business environment.
Relationship with Group Companies
Saud’s relationship with its group companies is governed by the following key frameworks:
- Shareholding: Saud is the principal shareholder and promoter of its group operating companies.
- Brand Equity & Business Promotion (BEBP) Agreement:
- Companies using the “Saud” brand are signatories to the BEBP agreement, which grants them the right to use the brand in return for a commitment to ethical and excellent business practices.
- As part of this agreement, all group companies are required to adopt:
- Saud Code of Conduct (SCoC)
- Saud Business Excellence Model (SBEM)
Saud Code of Conduct (SCoC)
The Saud Code of Conduct provides an ethical roadmap and guidelines for all Saud employees and group companies. It is rooted in the company’s core values of integrity, responsibility, excellence, pioneering, and unity.
Principles of the SCoC:
- Adherence to the highest moral and ethical standards.
- Promotion of corporate governance and respect for human rights and dignity.
- Professionalism, honesty, fairness, and integrity in interactions with employees, customers, communities, and the environment.
- Compliance with all applicable laws, rules, and regulations.
- Economic development of communities and maintaining the highest safety standards.
- Fostering a non-discriminatory, inclusive environment that allows stakeholders to voice ethics-related concerns without fear of retribution.
Saud Business Excellence Model (SBEM)
The Saud Business Excellence Model (SBEM) ensures operational and leadership excellence across all group companies. Managed by the Saud Business Excellence Group (SBExG), this framework facilitates the adoption of best-in-class processes and the sharing of best practices.
Key elements of the SBEM:
- Deployment of business practices for leadership, strategy, and operational excellence.
- Understanding and enhancing employee and customer satisfaction.
- Utilizing data-driven systems to generate insights and reusable knowledge assets.
- Conducting SBEM assessments to evaluate process maturity, identify opportunities for improvement, and enhance business performance.
Assessment Process:
Certified assessors, keeping the company context in mind, conduct detailed evaluations using holistic SBEM criteria. These reviews examine the strengths and practices of each company while identifying improvement areas.
Best Practices Sharing:
The SBExG actively shares best practices across group companies to encourage faster learning and improved results.
United Saud Group’s governance framework and commitment to excellence serve as the foundation for its continued growth, ethical leadership, and dedication to stakeholders.