Nominations and Remuneration Committee Meetings in 2009
Abdullah Sulaiman Al-Rubaian Mohammad Abdul Aziz AlSarhan Nasser Mohammed Al-Kahtani
Chairman Member Member Member
2 2 2 2
Sami Abdullah Al-Saeed
of Directors, the Executive Management is committed to act in line with the stated policies and to implement Board resolutions and strategic and operational plans that aim at development and growth of company activities and serve the interests of shareholders. No investments or reserves have been created for the benefit of Company employees other than their legal entitlements. It is also to be noted here that senior executives who are six (6) in number, including the Chief Executive Officer and Vice Chief Executive Officer (finance), do not hold any shares in the Company according to Tadawul records as at 31/12/2009.
The Senior Executive Management which is commissioned by the Board of Directors to manage company affairs, is led by the Chief Executive Officer , assisted by Vice Chief Executive Officers and heads of various business sectors/affiliates. The Executive Management assumes the responsibility of financial, administrative, technical, operational and informational, risk management and related company activities. Ad hoc committees are also formed by the Executive Management to provide assistance in following up certain activities and contingent tasks on an as-needed basis. Pursuant to the authorities vested in it by the Board
The Board is also pleased to thank the shareholders and customers of the company and to express its deep gratitude for their support and cherished confidence which motivates the Board to pay more effort and giving. The Board of Directors would also extend its deep appreciation to the employees of the company for their sincere efforts to develop and improve further the performance of the company to achieve the company’s stated goals. God bless, Board of Directors Riyadh, the 26th of Safar 1431 H, corresponding to the 10th of February, 2010.
The Board of Directors would like to avail itself of this opportunity to express its gratitude and deep appreciation to the Custodian of the Two Holy Mosques King Abdullah bin Abdul Aziz - may The God protect him, and to His Royal Highness Prince Sultan bin Abdulaziz, Crown Prince, Deputy Premier and Minister of Defense and Aviation, may The God protect him, His Royal Highness Prince Nayef bin Abdul Aziz, Second Deputy Premier and Minister of the Interior, may The God protect him, and to his rightly-guided government, especially the Ministry of Finance, the Ministry of Commerce and Industry, the Ministry of Transport, Capital Market Authority and the Public Investment Fund.
Annual Report 2009 The National Shipping Company of Saudi Arabia
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