Takween’s corporate governance is founded on a set of values and ethics that apply to all commercial transactions and relations. The company perceives governance as a philosophy that embraces accountability, fairness, transparency, and responsibility. The nature of Takween’s corporate culture and the implementation of corporate governance practices have greatly contributed to its development throughout the last few years, specifically when Takween was transformed into a joint-stock company listed on the Saudi Stock Exchange. The core values adopted by the Board of Directors and the management team within the corporate governance framework have played a major role in the success of the company’s IPO.
Takween’s corporate governance aims at providing a series of procedures that define relations with its Senior Management, Board of Directors, shareholders, and other concerned parties. This helps pave the path for setting the right objectives as well as the right means to reach these objectives, in addition to providing a significant motivational drive for the Board of Directors and Senior Management to constantly achieve goals that serve the best interest of the company and its shareholders.
Corporate Governance principles are key to Takween’s strategic vision and are the means to sustain the company’s assets and reputation. Takween’s employees embrace these core values and principles in their day-to-day work.
There are four committees at Board and management level in Takween: Audit Committee, Nominations & Remuneration Committee, Investment Committee and Executive Committee. Each Committee is responsible for reviewing the company’s performance within its specific area of expertise and providing the Board of Directors with frequent reports and recommendations.
Within the corporate governance framework, compliance officers conduct the necessary supervision to ensure that all operations and managerial decisions are taken responsibly and with utmost transparency. This helps to best serve the interests of all shareholders while considering all the associated business regulations, legislations, and practices.