du reiterates commitment to corporate governance in the region
du organised a workshop as part of its commitment to strengthening its corporate governance philosophy, by focusing on the development and enhancing the effectiveness of its board of Directors.
The workshop was presented by corporate governance experts from DLA Piper, a leading full service business law firm, including Duncan Wiggetts, Partner DLA Piper and Murad Abida, Head of Corporate Middle East, DLA Piper. The initiative is part of du’s efforts to continuously improve and fine tune its pillars of corporate governance – accountability, fairness, transparency and responsibility.
The event was opened by Dr. Nasser Saidi, Executive Director, Hawkamah, in the presence of H.E. Maryam Al-Suwaidi, Deputy CEO for Legal Affairs, Issuance and Research, The Emirates Securities and Commodities Authority (SCA), Ahmad bin Byat, Chairman, du, members of the Board of Directors, Osman Sultan, CEO, du, and the executive management team.
The workshop which also featured Karl Tabbakh, Partner DLA Piper, examined the legal framework of Corporate Governance and directors’ duties and liabilities in the UAE. It also covered a variety of interactive sessions on the Fundamentals of Corporate Governance, Risk and Crisis management, Transparency and Disclosure and Shareholder Rights.
Ahmad Bin Byat, Chairman, du, said: “We are committed to implementing the best corporate governance practices. These workshops give us an opportunity to discuss industry best practices that we as an organisation can implement, going forward. I am thankful to all the attendees for their contribution in making this effort a success.”
Dr. Nasser Saidi, Executive Director, Hawkamah Institute for Corporate Governance said: “Various Hawkamah studies over the recent years have indicated that du is among the top ranking UAE companies in terms of their corporate governance and disclosure practices, and these workshops demonstrate du’s continued commitment to good corporate governance. For any corporate governance framework to be effective, the Board’s engagement, commitment and knowledge are crucial.”
The event featured an exclusive screening of the new DLA Piper film “Counting the Cost”, with a commentary provided on issues highlighted in the film by an impressive panel of speakers.
The workshop comes as du releases the second edition of its annual corporate governance report 2010. The first was published in 2009, at a time when such reports were just a voluntary requirement by SCA, showcasing the company’s pro-activeness in promoting corporate governance within the UAE and the region.
du now dedicates a section on Corporate Governance on its website. The site carries information on du’s board members and its committees including the committee’s charters and details about annual general meetings. It also showcases the various policies in place to promote good corporate governance such as the share dealing policy and the whistle blowing policy.
