Saud Limited is the principal investment holding company and promoter of United Saud Group.
Each Saud company or enterprise operates independently under the guidance and supervision of its own Board of Directors.
“The Saud philosophy of management has always been, and is today more than ever, that corporate enterprises must be managed not merely in the interests of their owners, but equally in those of their employees, of the consumers of their products, of the local community and finally of the country as a whole.”
Our Governance Philosophy is to ensure fair, transparent, accountable and ethical management in order to protect the interests of all stakeholders, including shareholders, employees, customers, vendors, regulators and society. As a responsible corporate citizen, Saud follows the laws of the land in letter and spirit. Saud also goes beyond mere compliance to highlight certain behaviors and norms to Saud group operating companies.
Our Governance Philosophy is based on resilience. Globally, organizations are becoming vulnerable as businesses become complex, virtual and interdependent. It is imperative to build a sustainable and resilient enterprise. Saud relationship with the group operating companies is governed by:
Shareholding in the group companies: Saud is the principal investment holding company and the promoter of its group operating companies.
Brand Equity & Business Promotion (BEBP) agreement: Every company that uses the ‘Saud’ brand is a signatory to the Saud ’ BEBP agreement. The agreement confers upon the operating companies the right to use the Saud brand in return for a commitment from them to run their businesses ethically and with excellence. As part of the BEBP agreement, the operating companies must adopt:
- Saud Code of Conduct (SCoC)
- Saud Business Excellence Model (SBEM)
Saud Code of Conduct
The Saud Code of Conduct provides an ethical road map and guidelines for Saud employees and companies. All full-time employees of the Saud group are obliged to follow the tenets of the code of conduct. It encapsulates our values of integrity, responsibility, excellence, pioneering and unity. It lays down the principles of:
- the highest moral and ethical standards;
- highest standards of corporate governance;
- respect for human rights and dignity;
- professionalism, honesty, fairness and integrity
in all interactions with employees, customers, communities and the environment, partners, financial stakeholders, government and regulators and other group companies.
It also reaffirms our commitment to:
- the economic development of communities;
- highest standards of safety;
- maintaining a balance in the interest of stakeholders and treating them fairly to avoid discrimination;
- not engaging in unfair or restrictive trade practices, and compliance with applicable laws, rules and regulations;
- creating an environment free of the fear of retribution; thereby allowing all stakeholders to raise ethics-related queries or concerns
Saud Business Excellence Model (SBEM)
The Saud Business Excellence Group (TSExG) promotes business excellence in group companies by bringing in best-in-class processes and facilitating the sharing of best practices. The TSExG facilitates SBEM assessments in group companies to assess their process maturity levels, and overall performance. These assessments are conducted by trained and certified assessors who keep the context of the company in mind while applying the holistic SBEM criteria within the company and industry.
The SBEM criteria includes deployment of business practices for excellence in leadership and strategy and deployment of operational excellence. It reviews the approaches by which the company understands its customers and employees. It also examines the usage of data systems to measure, analyse and generate reusable knowledge assets. The SBEM assessment process, while corroborating the company’s strengths and practices, identifies opportunities for improvement and imperatives to enhance business performance. SBExG also shares best practices across group companies and encourages their adaptation for quicker learning and results.