Al Fozan Holding: Best Diversified Holdings Governance GCC 2021
“Success is ultimately defined by the measure one helps and benefits one’s fellow man. We aim to achieve this every day.” The statement illustrates Al Fozan Holding’s core values. The family business has grown since its foundation in 1959 to be one of Saudi Arabia’s most celebrated organisations. The Al Fozan family name has long been recognised and respected, not only throughout Saudi Arabia, but across the region and further afield too. It has gathered a large and diverse investment portfolio, encompassing industries including manufacturing, real estate, and retail. But it is more than just a conglomeration of assorted enterprises. It has an active social foundation which manages a large portfolio of non-profit organisations, CSR initiatives and other social investments. The company mantra is to “build a brighter future for everyone around us”. Today Al Fozan Holding is poised to grow beyond its regional base, with ambitions to become a prominent player in the global arena, but the company’s standards will remain the same. Al Fozan Holding is selective in its portfolio choices, insisting upon ethical rules of service and governance which cover sustainability, hiring and conflict resolution policies and strong board structures. It places a high value on individual skill and experience in its leadership teams, allowing a large degree of independence. In the words of the group chairman, Abdullah bin Abdullatif Al-Fozan: The judging panel recognises the skill with which Al Fozan Holding has grown through diverse acquisition in the past 60 years and is pleased to present the company with the 2021 award, Best Diversified Holdings Governance GCC.
