Ali Al Ali, Acting Company Secretary, Du

Ali Al Ali acts as the Company Secretary of EITC since 2020. He is also the Chairperson of the Insiders Committee of EITC. He holds an LLM-International Business Law from Universite Pantheon-Assas (Paris II), Bachelor’s degree in Law and Economy from Al Jazeera University in Dubai and Bac +3 in Legal and Commercial translation (French – English- Arabic) from Universite de Toulouse (III) ”le Mirail” in France. He has also received a Board Secretary certification from Hawkamah, the Institute of Corporate Governance. He has more than 17 years’ experience in the fields of governance, shareholders affaires and real estate. Prior to joining EITC in 2010, he had held several positions at TECOM Group, a subsidiary of Dubai Holding.

Q1. Why did you decide to perform a board evaluation?

The leadership at EITC is committed to strengthening the governance practices followed at EITC. Therefore, the Corporate Governance manual of EITC mandates performing an evaluation of the Board and its Committees on an annual basis to review its composition, identify individual capabilities across the Board, and also review the qualitative aspects of effectiveness, the dynamics, relationships and overall success of the Board as a team. Moreover, EITC ensures that the governance practices are followed in accordance with the applicable laws and regulations.

Q2. What is the value for an organisation such as EITC(du) in such an exercise?

In order for our Board of Directors to improve their performance and efficiency, and to create value for our company and its shareholders, the Board has put in place a structure of assessments and evaluation of its own performance. This involves the completion of assessment questionnaires by all Directors, covering the performance of the Board and its Committees. Other areas reviewed included the effectiveness of the Chairman and CEO, the monitoring of operational performance, corporate governance, and leadership and culture.

Moreover, performance of the board evaluation by an external consultant every few years ensures that independent professional opinion on Board performance is sought and recommendations as may be necessary to enhance the performance of the Board are implemented.

Q3. What are some of the measurements that can be used to assess board performance?
Specific measurements will differ from organization to organization depending upon its size, activities, management structure, etc. However, certain general measurements that can be considered to assess board performance are:

• how focused the board is on the implementation of strategic matters and stakeholder’s expectations
• role of the board in mitigating risks specially measures for crisis management
• expertise of the members in the field of the company as well as in areas like finance, technical, governance, legal, etc, so as to effectively participate in decision making
• matters that are normally considered by the board and its committees

Q4. What do you think makes for a high performing board?

Diversity is a key element in achieving a high performing board. It is thus important to have a board that is composed of individuals with different expertise and specializations. Adherence to corporate governance principles unquestionably factors in creating a high performing board as well, especially that such principles set out high standards and well-defined criteria for establishing a sound and effective board of directors with clear responsibilities and roles.

A high performing board is also characterized by strong leadership skills, commitment and dedication to protecting the company’s rights and interests, as well as those of the shareholders’.

Q5. What do you think are the key issues facing boards in the future?

The global economy is an ever-unpredictable terrain and volatile financial markets are always fluctuating as unanticipated events unfold unexpectedly. The multitude of risks associated with such unsteadiness requires that a company be quite agile and responsive which calls for a board of directors equipped with perceptiveness and acute judgement; that is a high ability to manage crises and ascertain opportunities for growth from risky ventures or possible hindrances.

If we consider the near future, it is quite likely to continue showing the impact of COVID-19. Key issues that will surely require the Board’s attention and focus are the changing needs of:

• stakeholders’ expectations
• workplace and work environment
• organization structure
• health and welfare measures adopted by the organization
• technological advancement to accommodate the necessities for smooth operations of the business
• effectively marketing techniques to face increasing competition