ENOC highlights its corporate governance model

Dubai: Emirates National Oil Company, ENOC, a wholly-owned entity of the Government of Dubai, has highlighted its corporate governance model at the Hawkamah Governance Forum in Dubai. At the event, organised by Hawkamah, The Institute for Corporate Governance, ENOC's Chief Executive Officer, Saeed Khoory, discussed the role of CEOs in subsidiary governance, putting the spotlight on the leadership vision and corporate governance framework of the organisation. Interviewed by Hawkamah CEO, Leonardo F. Peklar, at the forum, Saeed Khoory shared his philosophy and leadership style with the audience. "ENOC is part of everybody's daily life in Dubai. Either people use petrol provided by ENOC petrol stations, or they register their car through Tasjeel. Even when they go on vacation, flying in an airline from Dubai, we are touching their lives indirectly, as ENOC supplies jet fuel to these airlines. Therefore, I believe it is our responsibility towards everyone living in Dubai, as well as to our employees and the Government, that we promote a strong corporate governance culture within our organisation. This will not only lead us to the highest success, but also help build unconditional trust among our stakeholders." ENOC's corporate governance programme is in line with its expanded geographical presence and business diversification to ensure that all concerned parties adhere to the principles envisioned by the organisation. A Corporate Governance Progression Level Matrix has been adopted that aligns all related practices of the company on a par with international benchmarks. The matrix has six key attributes and four levels starting with compliance with laws and basic corporate governance formalities to corporate governance leadership.' With the new programme in place, ENOC will continuously assess the operations of all its companies to ensure that its existing levels of corporate governance conform to international best practices. These will be enhanced regularly to promote the group's leadership regionally. – Emirates News Agency, WAM