REPORT OF THE BOARD OF DIRECTORS
Table shows the Executive Management list during 2010:
Name
Title
Saleh Nasser Al-jasser Chief Executive Officer Abdulaziz K. Al-Rasheed Vice Chief Executive Officer, Planning & Business Devt. Saleh Al-Shamekh President (Oil & Gas Sector) Mohammad O. Al-Otaibi Vice Chief Executive Officer, Finance
Assistant Chief Executive Officer, Board Secretariat & Communication
Ahmed S. Al-Eidan
Table shows the Remunerations and Compensations for the five senior management members during 2010*:
Description
Amount in Saudi riyals
Salaries & Remunerations
3,187,465 1,538,074
Allowances
Periodic and Annual Bonuses
590,980
Incentive Plans
---
In-Kind compensations & other benefits
220,925
Total
5,537,444
* Senior management includes the CEO and the V-CEO of finance.
Conclusion
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 High- ness 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. The Board would like to thank the shareholders and the customers of the company and to express its deep gratitude for their support and cherished confidence which motivates the Board to invest 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 the perfor- mance of the company to achieve the company’s stated goals.
God bless, Board of Directors Riyadh, the 18/3/1432 H, corresponding to 21/2/2011.
The National Shipping Company of Saudi Arabia Annual Report 2010
43
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