SADAFCO wins award for corporate governance
Saudia Dairy and Foodstuff Company has been recognized as one of the top-performing companies in corporate governance listed on Tadawul, based on the Corporate Governance Index assessment for Fiscal Year 2023. This was announced at the Third Corporate Governance Award, hosted by the Alfaisal University Corporate Governance Center in partnership with King Faisal Specialist Hospital and Research Center.
Held under the patronage of Dr. Majed Alfayyadh, the conference successfully concluded with a strong turnout of industry leaders, experts, and professionals. The event featured an insightful program, highlighting discussions on the evolving landscape of corporate governance and the integration of AI in governance frameworks.
The conference, held under the theme 'Beyond Compliance: Rethinking Corporate Governance in the Age of Artificial Intelligence,' highlighted best practices in corporate governance and honored the top-performing listed companies. The assessment evaluates organizations based on key governance principles, including board structure, shareholder rights, public disclosure and transparency, and stakeholder engagement.
Sultan Alghamdi, chief legal and governance, risk and compliance officer, and board secretary at SADAFCO, accepted the award on behalf of the company.
'At SADAFCO, we are committed to upholding the highest standards of corporate governance, ensuring transparency, accountability, and long-term sustainability,' Alghamdi said.
This recognition reaffirms our dedication to maintaining robust governance practices that foster trust among our stakeholders,' said Alghamdi.
SADAFCO continues to enhance its governance framework, aligning with international best practices to drive corporate excellence and sustainable growth in the region. SADAFCO is a publicly listed company producing high-quality dairy and foodstuff products under the Saudia brand name since 1976, a year after the company was formed.
Saudia enjoys being one of the market leaders in the Kingdom in the production of milk, tomato paste and ice cream.
Based in Jeddah, the company operates sales and distribution depots in 24 locations across Saudi Arabia and the Middle East.
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