GCC Board of Directors Institute to Convene 8th Chairman Summit in Riyadh

September 29, 2022

Summit to explore ways to develop the economy and set new standards in sustainable development in the region and globally
6 October event will be a blend of physical and virtual modes

Riyadh, 29 September – The GCC Board Directors Institute (GCC BDI), a not-for-profit organization that promotes board effectiveness and good corporate governance, supporting GCC boards and board directors, celebrating its 15th Anniversary this year, has announced that it will convene the 8th edition of its flagship event, The Chairman Summit, in Riyadh on 6 October. The annual flagship event will bring together influential chairpersons, board members and C-Suite executives from across the GCC region and beyond to explore the ever-evolving role of boards and the implementation of best practices in corporate governance.

To be held under the theme of “Sustainable Development and Investment”, the Summit will explore ways to develop the economy and set new standards in sustainable development in the region and globally. It will also examine the latest trends in sustainable investment, as well as in environmental and social governance. The Summit is being run this year in partnership with The Red Sea Development Company, the developer behind The Red Sea and AMAALA.

The Summit will be opened by His Excellency Khalid Al Falih, Saudi Arabia’s Minister of Investment; while the welcome address will be delivered by H.E. Eng. Abdullatif A. Al-Othman, Governor, GCC BDI; and Jane Valls, Executive Director, GCC BDI. Guest speakers will include H.E. Dr Fahad Toonsi, Adviser to the Royal Court, H.H Princess Haifa Al Saud, Saudi Vice Minister of Tourism, Kingdom of Saudi Arabia and John Pagano, Group Chief Executive Officer, The Red Sea Development Company.

The daylong gathering will comprise panel discussions on topics such as “Emerging Trends in Sustainable Investment”, “Building the Future of Business – Sustainable Development” and “Navigating ESG”. Participants include H.E. Mohammed A. El-Kuwaiz, Chairman, Capital Market Authority, KSA; Dr. Lama Al-Sulaiman, Independent Board Director and former board member of the General Entertainment Authority; Mohammed Alrumaih, Chief Executive Officer, Saudi Exchange; Rajiv Shukla, Chief Executive Officer, HSBC Bank, KSA; Ahmed Ismail, CEO, Majid Al Futtaim Properties; Stephane Lapiquonne, Head of Sustainable Investing, EMEA for Blackrock; Karina Litvack, Chair of the Governing Board, Climate Governance Initiative; Dr Maryam Ficociello, Group Chief Governance Officer of The Red Sea Development Company; Pradeep Rana, Chief Risk Officer, First Abu Dhabi Bank; John Defterios, Senior Advisor, APCO Worldwide; and Gregory Djerejian, Group Head of Legal, The Red Sea Development Company.

This year’s summit will be a blend of physical and virtual modes, which will allow the flexibility for more participants to attend. The physical places will be limited as per the prevailing Covid-19 regulations and bookings for the same will be allocated on a first come first served basis. In case of any new restrictions on hosting the event physically, it will be held online.

Jane Valls, Executive Director of GCC BDI, said: “Global events, coupled with technological developments, have been relentlessly shifting and reshaping criteria, patterns and models of business. The Chairman Summit not only offers insights into the latest and emerging trends in the business world, but it provides a platform for board directors and senior business leaders to network and share experiences with peers and discuss the latest key governance and board issues that help raise awareness and enhance governance practices in the region.”
She stressed that the theme of sustainability would add a new dimension to the Summit this year, thanks largely to the pandemic and climate change which has necessitated businesses around the world to focus more sharply than ever on this subject.

John Pagano, Group Chief Executive Officer of The Red Sea Development Company, who is a keynote speaker, said: “The GCC BDI Chairman Summit is a great opportunity to explore some of the key challenges and opportunities in the field of sustainability and corporate governance, with all speakers and participants offering insights into new trends and enhancing knowledge and understanding.”
“For us at The Red Sea Development Company, it is a chance to share our successes in this field in the hope that our experience will also benefit the wider business community in the Kingdom and wider region.”

The GCC BDI Chairman Summit is an annual leadership event that has attracted more than 1,500 participations since its inception in 2013. The event is governed by Chatham House rules.

About GCC Board of Directors Institute
GCC Board Directors Institute (GCC BDI) is a not-for-profit organisation which guides board directors of organisations, from family-owned businesses to listed companies, to acquire the know-how and the tools to reach and sustain effective governance. Launched in 2007, we are very proud to be celebrating our 15th anniversary of operating across the GCC. We are supported by eight leading regional corporations and professional services firms who serve as our strategic partners.

Our mission is to enhance board member capabilities, create a strong and influential regional network of board members, and disseminate high-quality corporate governance knowledge, leading the regional debate on emerging best governance practices. We aim to accomplish these goals through a combination of effective practice and experience sharing, access to global knowledge and interaction with regional and international counterparts.

GCC BDI has grown to become the leading organisation in the region for board directors. We have delivered over 400 programmes and forums to top-tier companies in the Gulf and now comprise over 2600 members, each with extensive knowledge and experience in operating at the most senior levels of business in the GCC.

For more information, please visit https://gccbdi.org/

For media enquiries, please contact:
Mehwish Sarwar
GCC Board of Directors Institute
mehwish.sarwar@gccbdi.org

About The Red Sea Development Company

The Red Sea Development Company (TRSDC - www.theredsea.sa) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia. TRSDC was established to drive the development of The Red Sea Project, a luxury, regenerative tourism destination that will set new standards in sustainable development and position Saudi Arabia on the global tourism map.

The project is being developed over 28,000 km2 of pristine lands and waters along Saudi Arabia’s west coast and includes a vast archipelago of more than 90 pristine islands. The destination also features sweeping desert dunes, mountain canyons, dormant volcanoes, and ancient cultural and heritage sites. It is designed to include hotels, residential properties, leisure, commercial and entertainment amenities, as well as supporting infrastructure that emphasizes renewable energy and water conservation and re-use, as well as a circular waste management system to achieve zero waste to landfill.

Activity for the first phase of development is well underway and is on track to be completed by the end of 2023. The project has surpassed significant milestones, with over 1000 contracts signed to date, worth in excess SAR 25 bn ($6.6bn).

The 100-hectare Landscape Nursery, which will provide more than 25 million plants for The Red Sea Project and AMAALA, is now fully operational. There are more than 20,000 workers currently on-site and 90km of new roads are now complete. The Construction Village and the Waste Management Centre are both fully operational and development is progressing well at the Coastal Village, which will be home to around 14,000 people who will eventually work at the destination.

Contact details:
For more information please contact:
Rebecca Cousins: Director – PR & Communications Rebecca.Cousins@theredsea.sa