Manama, Bahrain: Yusuf bin Ahmed Kanoo Group of Companies (YBA Kanoo), one of the largest independent family-owned multinational businesses in the Middle East, has recently joined the GCC Board Directors Institute (GCC BDI), the leading governance organisation in the Arabian Gulf, as a Corporate Affiliate.
Economies are in constant flux and now more than ever businesses are under pressure to perform. Company performance is being put under the microscope by shareholders and other stakeholders alike. GCC boards and their directors must uphold the highest standards of corporate governance and deliver true value to persevere and thrive in these volatile economic conditions.
As a leading conglomerate in the region for over a century, YBA Kanoo Group strives to offer certainty to its stakeholders. In this pursuit, good corporate governance and compliance go hand-in-hand, as they are the foundation of any sustainable business. YBA Kanoo Group is devoted to maintain high corporate governance standards and comply with all relevant laws and regulations. Becoming a GCC BDI Corporate Affiliate not only proves its commitment to these principles, but also demonstrates its commitment to implementing and further developing the intellectual infrastructure which forms the backbone of the regional economy.
“We are pleased to have this opportunity to work with the GCC BDI, where we believe that mutual benefits will help us not only to share our experience of over a century of successful business performance but also to be updated with the latest trends in best practices and make sure that our governance of the group will bring us closer to our clients.” – Khalid Mohamed Kanoo, Chairman of YBA Kanoo Group.
Having empowered a professional management team to drive the business to new heights under its ambitious Vision 2020, YBA Kanoo Group aims in parallel to set a benchmark for corporate governance in the Gulf among Family owned businesses. Becoming a GCC BDI Affiliate not only ensures that it is synchronised with global best practices and latest governance trends, but also helps GCC BDI to promote the importance of high performance boards, and subsequently, foster economic development in the region.
“We are delighted to have YBA Kanoo Group join GCC BDI as a Corporate Affiliate,” said Jane Valls, Executive Director of GCC Board Directors Institute.
“We believe this will not only enhance their reputation and standing in the market, but it will also ensure that its unique value proposition to customers, investors and suppliers is enshrined and enhanced through the assurance of the conglomerate’s commitment to corporate governance, making YBA Kanoo a partner of choice for international corporations and regional customers alike.”
About Yusuf bin Ahmed Kanoo Group:
YBA Kanoo is one of the largest, independent family-owned multinational businesses in the Middle East with an extensive portfolio of complementary business units and strategic partnerships across a range of industry sectors. Established in 1890 as a family trading and shipping business in the Kingdom of Bahrain, the Company has evolved into a diversified conglomerate with a physical presence across the Middle East, North Africa, Europe and Asia.
YBA Kanoo is a key contributor to the region’s economic growth and development supported by over 120 years of experience, ethical conduct, best-in-class partnerships, advanced business systems and cutting-edge technologies. It has established itself as a first-choice partner for regional & international businesses and continues to pursue commercial growth and expansion through the constant delivery of business excellence.
YBA Kanoo’s business activities include shipping, travel, machinery, chemicals, logistics, property, energy, technology and retail, to name a few.
About GCC BDI:
Launched in 2007, the GCC Board Directors Institute (GCC BDI) is a not-for-profit organisation that guides board directors of organisations, from family-owned businesses to listed companies, to acquire the know-how and the tools to reach and sustain effective governance.
GCC BDI now works with over 1000 members who benefit from a network of senior business leaders and a variety of workshops designed for directors and C Suite. Notably, GCC BDI hosts an annual Chairman Summit that brings together regional leaders to explore the evolving role and value of Boards as well as appropriate corporate governance standards. GCC BDI is globally recognized and the only directors institute from the region to be admitted to the Global Network of Director Institutes.