The National Shipping Company of Saudi Arabia
Annual Report 2008
The Senior Executive Management, which is mandated 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’s activities. Ad hoc committees are also formed by the Executive Management to provide assistance in following up certain activities and exceptional tasks on as-needed basis.
Pursuant to the authorities vested in it by the Board 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’s activities and serve the interest of shareholders. No investments or reserves have been created for the benefit of Company’s employees other than their legal entitlements. It is also to be noted here that senior executives, including the Chief Executive Officer and Vice Chief Executive Officer (Finance), do not own any shares in the Company as at 31/12/2008.
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