Overview
Proper and effective governance is key to sustainable success.
Nahdi has strong governance standards and practices in place. Nahdi’s Board of Directors formed committees which include an Audit Committee, a Remuneration & Nomination Committee, and a Digital Transformation & Cybersecurity Committee.
The Company’s Committees
Nahdi has established strong committees to ensure the appropriate governance, transparency, and accountability frameworks are in place. The Board of Directors forms these committees in order to better run the Company. Each Committee has its own charters which determine the Committee’s roles, Responsibilities, and powers. The Committees shall periodically hold meetings for the purpose of carrying out the tasks entrusted thereto. The following committees are currently in place to advise the Board of Directors in essential areas.
The main task of the audit committee is to verify the adequacy and effective implementation of the internal control system and to make any recommendations to the Board of Directors that would actuate and develop the system to achieve the company’s objectives. The committee is also responsible for reviewing risk assessment activities, approving policies and procedures, the annual risk report and risk reduction plans before presenting the same to the Board of Directors. The committee is responsible for ensuring compliance with the company’s corporate governance regulations and Practices issued by Capital Market Authority (CMA) and the company’s corporate governance manual.
The main function of the Remuneration &Nomination and Committee is to determine the policies and procedures related to the nomination of the member if the Board of Directors, the Board Committees, and the Executive Management team members, and to determine the policies and procedures related to their compensation.
- Monitor compensation, benefits policies and schemes for the company overall.
- Review Board Membership regularly to ensure the right skills and diversity levels.
- Ensure that Nahdi Medical Company can continue to attract the very best talent.
- Maintain a succession plan to protect the future of the company’s operations.
The Digital Transformation and Cyber Security Committee assist the Board in achieving the Company’s digital transformation. The Committee’s main responsibility is to advise the Board of Directors as the Company continues to effectively adapt itself and grow in the face of the digital era. The Committee reports to the Board of Directors and represents the Board in reviewing the comprehensive digital transformation strategy and recommending the update thereof, while taking into account the Company’s strategic direction. Its scope of work includes:
- Discussing the Company’s comprehensive digital and innovation strategy with the Executive Management, including strategic objectives and initiatives, investments, and research and development activities, and making recommendations to the Board of Directors, as necessary.
- Reviewing and discussing any material digital risks and key opportunities that may be encountered by the Company, and the emerging issues and trends in the broader market.
- Periodically reviewing and evaluating the performance of the Company’s initiatives to support its digital strategy and innovation, with a focus on improving the operations of Omnihealth initiatives, including the provision of new products and services, as well as consumers’ acceptance and integration thereof.
The Company’s policy is to adopt high standards of corporate governance.
As such, Nahdi has developed a Corporate Governance Manual in accordance with the Corporate Governance Regulations (CGRs) issued by the Capital Market Authority (CMA).
The CGRs prescribe the rules and standards for the management of the Company to ensure that Nahdi’s Corporate Governance standards are in line with best practices enshrining the rights of shareholders and stakeholders. The provisions of the CGRs shall be mandatory, except for those provisions referred to as guiding provisions. Nahdi’s internal Corporate Governance Manual that was approved by the company’s Board of Directors and by the company’s General Assembly includes provisions relating to the following
Shareholders’ rights.
Rights related to the general assembly meeting.
Distribution Dividend policy.
General assembly policies.
Executive management, its functions and responsibilities.
The Company’s committees, their respective charters detailing their membership, responsibilities and meetings.
Disclosure policies
The Board of Directors, its composition, responsibilities, competencies, policies (including its conflict of interest policy) and work procedures.
Board of Directors
Nahdi’s Board of Directors is supported by robust, world-class corporate governance standards and procedures, and brings a wealth of experience and expertise earned in key positions across a diverse range of multinational corporations.
Academic qualifications: Bachelor’s in Civil Engineering from King Fahd University of Petroleum and Minerals.
Current Board Memberships
Saudi Economic and Development Company- SEDCO Holding | Chairman of the Board of Directors – Former
Nahdi Medical Company | Chairman of the Board of Directors – Present
Red Sea Markets Company Ltd. | Chairman of the Board of Directors – Present
Red Sea Markets for Real Estate Investment Company- Asir | Chairman of the Board of Directors – Present
Al Mahmal Development Company | Chairman of the Board of Directors – Present
Numu Real Estate Development Company Limited | Chairman of the Board of Directors – Present
Al Khomasiah International Real Estate Development Company | Board member – Present
Khumasia Tabah Holding Company | Board member – Present, Chairman of the Investment Committee – Present
Previous Board Memberships
Al Mahmal Facilities Services Company | Chairman of the Board of Directors – Former
Al-Balad Al-Ameen Company | Board member – Former
Yanbu Saudi Kuwaiti Paper Products Company | Board member – Former
Yanbu Cement Company |Board member – Former
Saudi Economic and Development Company (SEDCO Holding) | Chairman of the Executive Committee – Former
Academic qualifications: Bachelor’s Business Administration from King Abdulaziz University.
Current Board Memberships
Nahdi Transportation | Company General Director – Present
Al Nahdi Humanitarian Institution | Chairman of the Board of Trustees – Present
Al Nahdi Holding Company | Chairman of the Board of Directors – Present
Nahdi Medical Company | Vice Chairman – Present
King Salman Center for Disability | Research Board member – Former
Endowments of King Abdulaziz University | Board member – Former
Academic qualifications: Bachelor’s in Business Administration from Ohio State University.
Current Board Memberships
Mithaq Holding Company | Chairman of the Board of Directors – Present
Al-Mahwar Investment Holding Company Chairman of the Board of Directors – Present
Ta’alum Association General Assembly Member- Present.
University of Prince Mugrin Honorary Board Member- Present.
Distinguished Initiatives Association Board Member- Present.
Saudi Economic and Development Company (SEDCO Holding) | Vice Chairman – Present
Salem Bin Mahfouz Foundation | Vice Chairman of the Board of Trustees and Chairman of the Executive Committee – Present
Nahdi Medical Company | Board member – Present
Previous Board Memberships
SEDCO Capital | Chairman of the Board of Directors – Former
Saudi National Bank | Deputy Regional Director for the Riyadh Region – Former
National Center for Non- profit Sector Board Member – Former
Academic qualifications:
Bachelor’s in Industrial Engineering from King Saud University.
Current Board Memberships
Nahdi Medical Company | Member of the Board of Directors and Chief Executive Officer – Present
Previous Executive Positions
Saudi Unilever Company | Managing Director – Former
Unilever Arabia Company | Marketing General Manager – Former
The Savola Group | Brand Manager – Former
Academic qualifications:
Master’s degree in Economic and an MBA from Boston University, USA.
Current Board Memberships
Awqaf Investment Company Board Member- Present.
Sabeen Investment Company | Managing and Executive Director – Present
Saudi Agricultural and Livestock Investment Company | Board Member – Present
Nahdi Medical Company | Board Member – Present
Al Rajhi Bank | Board Member – Present
Wisayah Global Investment Company | Board Member – Present
Southern Province Cement Company | Board Member – Present
Albilad Tourism Fund | Board Member – Present
Arabian Internet & Communications Services Company | Board Member – Present
Previous Board Memberships
National Petrochemical Company | Board Member – Former
Riva Investment | Board Member – Former
Abdullah Al Othaim Investment Company | Board Member – Former
Arabian Cement Company | Board Member – Former
HSBC Saudi Arabia | Board Member – Former
Al Raidah Investment Company | Board Member – Former
Shared Vision Company Managing Director - Former
Academic qualifications:
MBA from Imperial College, London, UK, and a Master’s degree in Medical Administration from the University of Birmingham, UK.
Current Board Memberships
Flagship Pioneering Senior Partner - Present.
Medicines and Healthcare products Regulatory Agency | Board member – Present
Nuffield Health | Board member – Present
University College London Hospital | Board member – Present
University College London Charity Hospital | Trustee – Present
Essential Guides UK Limited | Director – Present
Previous Board Memberships
MSD Health Services Company | Medical Executive Director – Former
Academic qualifications:
Master’s in Economics and Business from the Ecole Centrale University of Paris.
Current Board Memberships
Get Go Lte – Singapore | Board Member – Present
Nahdi Medical Company | Board Member – Present
Ecoalf Spain Consultant- Present
Previous Board Memberships
OLX | Chief Executive Officer – Former
OLX BV Group | Board Member – Former
OLX Global BV Group | Board Member – Former
OLX India BV Group | Board Member – Former
Airbnb Inc. | Vice President of Operations, Sales, and Global Geography – Former
Global Fashion Group (Xetra, GFG.DE) | Chief Executive Officer – Former
Amazon France | President and General Manager – Former
Carrefour | Board Member – Former
Executive Management
Nahdi is led by a strong executive leadership team with deep understanding of the sector totalling over 200 years of cumulative relevant experience and expertise.
Academic qualifications:
Bachelor's Degree in Industrial Engineering from King Saud University, Saudi Arabia.
Current Executive Position
Chief Executive Officer
Previous Executive Positions
Eng. Joharji was appointed Nahdi’s CEO in 2014 and became a Board member in 2021. With over 31 years of sectorial experience, he has held a number of leadership positions at Unilever Saudi Arabia and Savola Group.
Academic qualifications:
Bachelor’s Degree from King Fahd University of Petroleum and Minerals, Saudi Arabia, and is a Certified Management Accountant.
Current Executive Position
Chief Financial Officer
Previous Executive Positions
Mr. Al-Khubani joined Nahdi in 2013 as Senior Director of Planning and Financial Analysis. Previously he held a number of managerial positions at Procter & Gamble, including Regional Financial Director of Strategic Planning.
Academic qualifications:
Bachelor’s Degree in Sciences from King Abdulaziz University, Saudi Arabia.
Current Executive Position
Chief Network Development Officer
Previous Executive Positions
Mr. Aytah joined the company in 2006 and was promoted to his current role in 2016. He has held several leadership positions at Nahdi, including Vice President of Network Development. Previously, he was General Manager of Retail at Abdulatif Jameel Electronics & Air Conditioning.
Academic qualifications:
Bachelor's Degree in Industrial Engineering from King Abdulaziz University, Saudi Arabia.
Current Executive Position
Chief Corporate Governance and Business Support Officer
Previous Executive Positions
Eng. Monagel has more than 24 years’ experience across retail, warehouse, and supply chain management. He joined Nahdi in 2013. Previously, Eng. Monagel was Vice Presidentof Supply Chain at Panda Retail.
Academic qualifications:
Bachelor’s Degree in Management Information Systems and Decision Sciences, and a Master’s in Information Systems from George Mason University, USA.
Current Executive Position
Chief Human Resources Officer
Previous Executive Positions
Mr. Bokharee joined Nahdi in 2018. Before joining the company, he was at Pfizer and the National Commercial Bank (NCB), where he held several HR roles.
Academic qualifications:
Bachelor’s Degree in Chemical Engineering from King Abdulaziz University, Saudi Arabia, and a Certificate in Organizational Leadership from INSEAD Business School, Singapore.
Current Executive Position
Chief Supply Chain Officer
Previous Executive Positions
Eng. Jamal has more than 33 years’ experience in supply chain. He joined Nahdi from Unilever, where he held several positions including Vice President of Supply Chain.
Academic qualifications:
Master’s Degree in Executive Management from the Arab Academy for Science and Technology and a Bachelor’s Degree in Pharmacy from Alexandria University, Egypt.
Current Executive Position
Chief of Commercial and Marketing Officer
Previous Executive Positions
Dr. Khattab joined Nahdi in 2016. With 21 years’ experience in retail and marketing, he joined the company from Unilever, where he held several marketing roles, including Head of Personal Care Marketing.
Academic qualifications:
Engineering degree and a PhD in Computer Science from the Institute National des Sciences Appliquées, France.
Current Executive Position
Chief Information Technology Officer
Previous Executive Positions
Dr. Tadlaoui has held his current position since 2011. Beginning his career in 1993 as an EMEA Communications Project Manager at Procter & Gamble, he subsequently held managerial roles at Hewlett Packard Enterprise and Savola.
Academic qualifications
Bachelor’s degree in Pharmaceutical Science from Tanta University in Egypt, and a Certificate in Healthcare Management from Yale University, USA.
Current Executive Position
Chief Operations Officer
Previous Executive Positions
With more than 23 years’ experience in Nahdi’s Operations sector, Dr. Abdullatif is GM for the Riyadh, Jeddah and Makkah regions. Previous Nahdi roles include Senior Director of Omnihealth Excellence.
Academic qualifications:
Bachelor’s degree in Pharmaceutical Science from Mansoura University, Egypt, and has conducted advanced studies in leadership, strategy, finance, and healthcare management at Harvard Business School, INSEAD, Yale School of Management, and the University of Maryland, USA.
Current Executive Position
Chief Omnihealth Officer
Previous Executive Positions
Dr. Mustafa leads the NahdiCare Clinics business. His 20+ years at Nahdi include leading strategy, operations, and growth.
Committees
Nahdi has established strong committees to ensure the appropriate governance, transparency, and accountability frameworks are in place. The Board of Directors forms these committees in order to better run the Company. Each committee has its own charters which determine the committee’s roles, responsibilities, and powers. The committees shall periodically hold meetings for the purpose of carrying out the tasks entrusted thereto. The following committees are currently in place to advise the Board of Directors in essential areas
| Name | Position | Qualifications |
|---|---|---|
| Abdulatif Ali Abdulatif Al-Seif | Chairman | MBA from Boston University |
| Wael Kamal Eid | Member | PhD in Risk Management from Durham University |
| Abu Bakr Ali Ba Jaber* | Member | PhD in Financial Management and Accounting from the University of Strathclyde |
| Walid Abdullah Tamirik* | Member | Bachelor’s degree in Management and Economics from King Abdulaziz University |
*The audit committee was reconstituted, and the member, Mr. Abu Bakr Ali Omar Ba Jaber, was replaced by the new member, Mr. Walid Abdullah Temairik, by a decision of the Board of Directors dated 22 October 2024
| Name | Position | Qualifications |
|---|---|---|
| Junaid Ezmat Bajwa | Chairman | MBA from Imperial College Business School |
| Walid Ahmed Bahamdan | Member | Bachelor of Science in Electrical Engineering from Purdue University |
| Assaf Abdulkareem Alquraishi | Member | Bachelor’s degree in Finance and Internation Business from the McDonough School of Business, Georgetown University |
*The Remuneration and Nomination Committee was reconstituted, by the Board of Directors’ decision dated 22 October 2024.
| Name | Position | Qualifications |
|---|---|---|
| Romain Voog | Chairman | Master’s degree in Economics and Commerce from the University of Paris |
| Junaid Ezmat Bajwa | Member | MBA from Imperial College Business School |
| Juan Carlos Sacristan | Member | Master’s degree in Physics from the Autonomous University of Madrid |
The Digital Transformation and Cyber Security Committee was reconstituted by the Board of Directors’ decision dated 22 October 2024.
IPO
Following the successful initial public offering, Nahdi listed on the Saudi Stock Exchange (Tadawul) on 22 March 2022 with the stock symbol ticker 4164.
Nahdi announced its Intention to Float on the Saudi Stock Exchange (Tadawul) main market on 20 February 2022. The Offering comprised a sale of 39,000,000 ordinary shares representing 30% of the Company’s share capital.
