Rule X: Encourage and Enhance Performance
Board Training and Development Plan
One of the most important contributions that Board members make is the time they devote to carrying out the tasks and responsibilities assigned to them. The Board works in cooperation with its committees, the Secretary and the concerned departments to manage time in a manner that allows members to review various issues and provide the necessary notes, approvals and responses
The role of the Board varies according to the type of company, industry, field, and applicable laws. At Zain, the Board actively participates to perform its role in the best way. The Nomination and Remuneration Committee reviewed the performance of the Board for the past year, and on the basis of this review, it made several proposals for courses, programs and training workshops that shed light on the Board’s strategies to enhance its performance and increase efficiency.
The various training tools help to develop the skills and frameworks necessary to meet challenges and improve the performance of the Board, who are keen to participate in training and development programs proposed by the Nomination and Remuneration Committee.
As a result of the Board evaluation process, a training plan is prepared for all members covering development needs identified during the evaluation process
The following is a list of training programs attended by Board members in 2019
Board Assessment
The importance of the annual assessment of the Board’s performance is focused on enhancing the company’s business, which has a strong relationship with how it is managed.
Focus areas are numerous, and in the absence of a global standard for self-evaluation, Zain Board appointed Price Waterhouse Coopers (PwC) to evaluate its performance and that of its members and committees. The most important areas for the assessment of the Board are its composition, its role in governance, Board operations, and overseeing financial reporting and auditing.
The Board assessment shows how well it has performed and how members cooperate with one another. It also provides an insight on how the Board has responded to its legal obligations and duties and what aspects to consider when forming the development and training plans for Board members.
Value Creation
The main focus of the Board is to maximize shareholders value. Members of the Board work to enhance the overall effectiveness of meetings and to increase business value and competitive advantage. The participation of the Board confirms its compliance with the applicable laws and regulations.
Zain is in constant communication with the media to ensure that The Board works to create value by elevating the level of discussions to cover key points and areas such as business strategy, the impact of the regulatory environment, crisis management, and setting guidelines to ensure that their decisions are conducted more efficiently.
The role of the Board is based on building a balanced structure as stated in the relevant laws. It is also crucial to increase cooperation between Board members and executive management. One of the most important areas in which the Board works with the executive management is to emphasize commitment to strategy, vision and goals of the company and the code of conduct that defines the company’s identity. The Board also devotes time and effort to managing crises and emergencies.