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du Reiterates Its Commitment To Corporate Governance In The Region
Published Mar 29, 2011
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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 workshop 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 internationally renowned 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. Hawkamah is proud to be supporting du’s initiatives to abide by international best practices and thereby set an example to the region’s companies.”
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.
“As the Middle East continues to develop, it is important that companies across the region focus more attention on corporate governance to ensure guidelines and regulations are in place to protect companies and shareholders. Companies such as du can be seen as an example of how international best practice can be implemented on a practical level and we're delighted to be working with a board that places corporate governance so high up the agenda.” Murad Abida, Head of Corporate Middle East, DLA Piper.
The workshop comes as du releases the second edition of its annual corporate governance report 2010 by the end of March. 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. Initiatives such as this placed du fifth in the in the S&P/Hawkamah Environmental, Social and Corporate Governance (ESG) Index, which covers 11 countries in the Middle East and North Africa region. The Index evaluated several of du’s impressive ventures undertaken throughout the years showcasing the company’s commitment to corporate governance.
du has dedicated a section on Corporate Governance on its site*, leading the way in showcasing transparency in the region. The site carries extensive 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. Additionally, in the interest of enhancing and improving the company’s corporate discipline knowledge and skills, the management has been directed by du’s chairman to systematically update the board on all industry trends and developments that touch upon the telecommunications industry.
Media Contacts:
Saugat Chatterjee
Public Relations Manager
Brand & Communications
du
Mobile: +971 55 9367045
Email: saugat.chatterjee@du.ae
Reka Sepsy
Manning, Selvage & Lee
Tel: +971 4 367 6154
Mobile: +971 55 220 68 20
Fax: +971 4 367 2615
Email: reka.sepsy@dubai.mslpr.com
Posted by
VMD - [Virtual Marketing Department]
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