Corporate Governance
In order to strengthen and guarantee the application of the best practices of corporate governance to protect the rights of shareholders and stakeholders, the company developed an integrated system for governance of its businesses, specifying the norms, standards and regulations relating to the management of Saudi Automotive Services Co. (SASCO).
The system has been developed according to the guide regulation to Corporate Governance issued by the Capital Market Authority.
The corporate governance regulation aims to:
- State rules and standards of company's management for all internal and external parties.
- Ensure continuity in the application of standards and creation of monitoring procedures to ensure compliance with them.
- Enhance productivity and employment on the basis of and in accordance with the principle of full transparency.
- Activating the role of shareholders in the company and facilitating the exercise of their rights.
- Protect the rights of shareholders and stakeholders.
- Explaining the responsibilities and responsibilities of the Board of Directors and the Executive Management.
- Activating the role of the board and committees and developing their efficiency to enhance decision-making mechanisms in the company.
- Achieve the appropriate level of disclosure.
- Provide effective and balanced tools to deal with conflict of interest situations.
- Strengthening the control and accountability mechanisms of the company's employees.