The importance of Corporate Governance (CG) has increased significantly, given its central role in establishing robust governance frameworks, enhancing transparency, and ensuring a clear and accountable business environment. Effective corporate governance positively impacts financial markets by enabling companies to achieve their financial objectives at competitive cost, while mitigating risks that could lead to financial distress, bankruptcy, and seizure of assets.
Our mission is to establish a best-in-class governance framework at stc that upholds the highest standards of accountability, transparency, fairness and independence. Through this commitment, we strive to maximize shareholder value by enhancing operational efficiency and effectiveness, building stakeholder trust, and driving sustainable long-term growth.
The company's leadership is committed to embedding corporate governance principles at the core of stc’s operations. The following governance objectives have been established:
1. Align with World-Class Standards: Ensure stc meets leading corporate governance standards, best practices and benchmarks.
2. Implement a Robust GRC Framework: Establish a comprehensive Governance, Risk and Compliance (GRC) framework that promotes business efficiency, transparency and operational excellence.
3. Mitigate Risks: Reduce risks and liabilities for stc’s shareholders, the Board, and executives.
4. Enhance Brand Value and Customer Experience: Execute strategies that optimize shareholder returns and drive long-term company valuation growth.
5. Maximize Shareholder Value: Implement strategies that optimize shareholder returns and increase company valuation.
6. Sustain High Performance: Ensure the company can consistently achieve and sustain its targeted performance level.
stc’s Board of Directors is committed to maintaining an effective corporate governance framework that clearly defines the roles and responsibilities of the Board and Executive Management. This framework supports sound decision-making, compliance, and risk management across the organization. It is fully aligned with the Companies Law issued by the Ministry of Commerce, the Corporate Governance Regulations of the Capital Market Authority, and all other applicable regulations in the Kingdom of Saudi Arabia.
At stc, robust governance is fundamental to long-term success and sustainable growth. We implement a dynamic, evolving framework to promote excellence and compliance throughout the group. By cultivating a unified culture of accountability, agility, and transparency, stc enhances governance maturity, strengthens stakeholder trust, and creates lasting value for shareholders, partners, and communities..
