Mezzan Holding adopts policy, systems and procedures for the protection of its business operations and shareholders while balancing and separating powers between the executive management, who run the business, and the Board of Directors, who strategize and oversee the company’s overall performance and strategic alignment.
The key objectives of corporate governance and oversight adopted by Mezzan Holding are to ensure consistency of the business, protection of the shareholders, promoting transparency and credibility, and the ability to tackle and address issues and to promote and enhance management efficiency, secure lower-cost operation and financing, promote and reinforce control and audit procedures, promote corporate responsibility, promote fairness and transparency, and eliminate conflict of interest.
The aim of the whistleblowing policy is to set proper guidelines and procedures to report abuses and violations of the rules and regulations.
This policy does not aim to suspect financial, commercial or other business decisions taken by the company and should not be used for the purpose of retroactively challenging any matters already occurred in the past in the context of other procedures.
BOARD OF DIRECTORS
To further ensure oversight, Mezzan Holding’s Board of Directors includes posts for two independent directors pursuant to the requirement of Corporate Governance Rules issued by the Board of Commissioners of the CMA under Decree number 25 of 2013 with respect to the corporate governance rules for companies subject to the supervision of the CMA.
The independent directors share the same authorities as other directors with regard to their tasks, authorities and the formation of the internal committees in accordance with the aforementioned Corporate Governance Rules.
- Abdulrahman Jassim Mohammed Al Wazzan, Chairman
- Mohammed Jassim Mohammed Al Wazzan, Vice Chairman
- Moutasem Jassim Mohammed Al Wazzan, Director
- Abdulwahab Ahmed Al Marzouq, Independent Director
- Jamal Abdulhameed Al Mutawa, Independent Director
- Ensure consistency of the business
- Protection of the shareholders
- Promoting transparency and credibility
- Enhance management efficiency
- Promote and reinforce control and audit procedures
- Promote corporate responsibility, fairness and transparency
- Eliminate conflict of interest
- Risk Management Committee
- Nomination and Remuneration Committee
- Corporate Governance Committee