JEDDAH — Mohammed Al Shroogi, president of Investcorp – a leading provider and manager of alternative investment products, and a founding member of the GCC Board Directors Institute (BDI) – encourages organizations to make corporate governance part of their DNA. He 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.” In fact, 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. On Board matters, he said “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.” Nathalie Potvin, Executive Director of BDI, added: “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.” — SG
