Savola Board of Directors Celebrates Winning The Golden Global Corproate Governance and Transparency Award

23rd DECEMBER 2014, JEDDAH, KSA: The Board of Directors of The Savola Group, a Saudi listed company in the stock exchange, celebrated the Group winning the Golden Peacock Global Award for Excellence in Corporate Governance from the International Awards Management. The award was presented at the 14th London Global Convention by the British Home Secretary, Mrs. Theresa May.

Savola was the only company from the Middle East and the Arab countries to be selected for the Award for Excellence in Corporate Governance. 283 companies from around the world including private & public organizations applied for the Corporate Governance and Sustainability Award for the year 2014.

Commenting on the Group’s achieving this award, Mr. Sulaiman Al-Muhaidib, Chairman of the Board, congratulated all Savola’s shareholders and employees for winning the award in CG. He also thanked all shareholders for their continuous support, and the Board of Directors and Executive Management for their leadership and managing of Savola’s operations, and maintaining the best standards of corporate governance

Mr. Mohammed Abdul Kader Al Fadel, Head of Remuneration, Nomination and Governance Committee said: “The Savola Group adopted corporate governance standards since 2003, believing in the importance of governance and transparency for shareholders, investors and the financial market and the role it provides in protecting the rights of all stakeholders”,

He also highlighted; “The Savola Group has been ranked first in KSA and second in the Arab world in the field of corporate governance and transparency, according to an independent study conducted by Standard & Poor's (S&P) and HawkamahInstitute for CorporateGovernance in Dubai back in 2011 for its excellence and high standards of application of CG. All of these achievements will only put more challengeon the Groupto move forward in adoptingglobal standards and best practices”

During the course of 2014, The Savola Group has won several awards linked to the Group’s outstanding performance in the fields of leadership, corporate governance and CSR.

The Savola Group has won The Asia Pacific HRM Congress’ Knowledge Management Leadership Award, and the Employer Branding Institute’s Best Employer Brand Award at GCC level. The Group was also named as one of Forbes’ top 500 companies in the Arab World and number one in the food industries sector.

In addition, Dr. Abdulraouf Mohammad A. Mannaa, CEO& MD of the Savola Group was awarded the Outstanding Performance Leadership Award, Most Influential Leader Award and Visionary Leadership Award throughout 2014 from Asian Leadership Conference. Tarik Ismail, Director – Corporate Affairs, Sustainability & Board Secretary of the Group was also commended as the Young Executive of the Year at the Super Boss Awards.