H.E Eng Abdullatif Al-Othman

H.E. Eng. Abdullatif Al-Othman was the first Chairman of GCC BDI from 2007 to 2010. Eng Al-Othman was the former Governor of Saudi Arabian Investment Authority (SAGIA) and prior to that was the Senior Vice President of Finance at Saudi Aramco. He has over 35 years of experience in planning and managing Oil and Gas Projects, Corporate Finance, Investment, Business Development and International Business Relations. Eng Al-Othman earned a B.Sc. in Civil Engineering from King Fahd University of Petroleum and Minerals in 1979 and a master’s degree in Business Administration from the Massachusetts Institute of Technology as a Sloan Fellow in 1998. H.E Al Othman now serves on several boards locally, internationally, and government Institutions.

Q1- GCC BDI is celebrating its 15th anniversary in 2022. Can you describe how you first got involved with GCC BDI?

We used to hold an annual CFO forum for leading corporations in the GCC, it was an invitation only forum that aimed to foster cooperation between CFOs to exchange views about the challenges facing the CFO and the business. The forum was also attended by leading international advisory firms who had a keen interest in the region. At the 2006 forum, the subjects of governance and board effectiveness were identified as key enablers for resilience and sustainability and there was a suggestion to establish an institute for directors. This was the genesis of the GCC BDI.
 

Q2- From your experience as the first chairman of GCC BDI, what was the motivation for setting up the institute?

Our motivation was multifold, to raise awareness about the importance of board, board roles and board effectiveness; offer training and development opportunities, work with regulators to embed best practices in regulations and create the ecosystem, and finally be a source of advice on matters specific to the region in terms of board effectiveness
 

Q3- How do you think corporate governance and board effectiveness have evolved in the region over the last 15 years?

I am very impressed by the manner in which many regulators have embraced board effectiveness and generally, we can say that from a regulations standpoint we have the key requirements to help steer corporations to the right track of good governance. We still lack in terms of board member qualifications, understanding of roles, and implementation of best practices when it comes to board agenda, board materials, and independent board evaluations however.
 

Q4- Where do you see the future of GCC BDI?

GCC BDI is at a great juncture as the region’s regulatory environment is ripe, with our 15+ years of experience we can grow and offer unique value propositions to all stakeholders in the GCC (regulators, corporations, individuals, academic institutions as well as research). I see GCC BDI growing and it will definitely be the place to go to for advice on board and board effectiveness with particular insights for the GCC. We have a noble purpose, we are not for profit, we make an impact and we have unlimited support from leading and caring corporations. We have a great future and great opportunities to make a difference.
 

Q5- Can you kindly share a few words to congratulate GCC BDI on reaching this milestone?

I am very proud of the achievements GCC BDI have made, this was only possible by the hard and professional work of GCC BDI team and the invaluable support we got from our founding and strategic partners local and international. My thanks and appreciation to all.