Corporate Governance

MEPCO complies with the best corporate governance practices and considers this to be a material factor in its success so far. Accordingly, the company has developed its own corporate governance and system to protect the shareholder’s and stockholders rights. MEPCO is committed to maintaining high standards of corporate governance and sees such practices as an essential tool in maximizing long-term shareholder value and as being entirely consistent with its commitment to quality in all of its processes and products.

The Corporate Governance Regulations and Internal Governance Regulations consist of the following:

• Corporate Governance Regulations
• General Assembly of Shareholders Regulations
• Audit Committee Regulations
• Nomination and Remuneration Committee Regulations
• Disclosure and Transparency Policy Regulations
• Internal Control Regulations
• Risk Management Policy Regulations
• Dividend Distribution Policy Regulations
• Code of Conduct and Relations with Stakeholders
• Conflict of Interest Policy Regulations

The Corporate Governance Regulations aim to improve and regulate governance of the Company, to create a high level of transparency in this regard and to ensure that the Company complies with the Corporate Governance Regulations through developing:

a. Administrative performance that increases the Company’s value and accountability.

b. Effective oversight in cooperation with executives, in furtherance of the interests of the Company and stakeholders, including small investors, while seeking to increase shareholder equity in an appropriate manner.

c. Appropriate information disclosure, transparency, and effective internal control and risk management systems.

The Company has satisfied all the necessary conditions stipulated in the Corporate Governance Regulations issued by the CMA.

In addition, the Company complied with most of the optional articles contained in the Corporate Governance Regulations issued by the CMA as detailed in Form 8, which was completed and submitted to the CMA

Emad Abdulkadir Al Muhaidib

Chairman / Non-executive

Abdullah Abdul Rahman Almoammar

Vice Chairman / Non-executive

Abdul-Ilah Abdullah Abunayyan

Board Member / Non-executive

Khaled Saleh Al-Khattaf

Board Member / Non-executive

Mussab Sulaiman Al-Muhaidib

Board Member / Non-executive

Ahmed Mubarak Al-Debasi

Board Member / Independent

Faisal Omer Al-Sakkaf

Board Member / Independent

Tariq Mutlaq Al-Mutlaq

Board Member / Independent

The Audit Committee consists of the following members:

Name Position
Faisal Omer Al-Sakkaf Chairman
Khaled Saleh Al-Khattaf Member
Mussab Sulaiman Al-Muhaidib Member

Remuneration and Nomination Committee members:

Name Position
Ahmed Mubarak Al-Debasi Chairman
Abdullah Abdul Rahman Almoammar Member
Omar Mohammed Siraj Member

Members of the Executive Committee:

Name Position
Abdullah Abdul Rahman Almoammar Chairman
Abdul-Ilah Abdullah Abunayyan Member
Khaled Saleh Al-Khattaf Member
Mussab Sulaiman Al-Muhaidib Member

Senior Executives:

Name Position
Sami Ali Al-Safran CEO
Mohamed Saleh Darweesh CFO