3rd International Corporate Governance Conference

Day 1: Good Corporate Governance: Moving from Compliance to Culture (December 10,2024) (8:00 am – 8:00 pm)

Good Corporate Governance: Moving from Compliance to Culture
Date: December 10, 2024
Location: Intercontinental Hotel, Riyadh
Attendees: 30-40 board members and top executives from various companies

Objective:

This workshop will use the Harvard Business School Case Study Method to provide hands-on, practical learning for corporate executives, drawing on real-world examples from leading companies in Saudi Arabia and the USA. The Corporate Governance Index (CGI) developed by Alfaisal University assesses the governance practices of Saudi Arabian companies across four key dimensions: Board of Directors, Shareholders’ Rights, Public Disclosure & Transparency, and Stakeholders’ Rights. Based on nearly 300 variables, the CGI ranks companies to identify areas of strength and highlight shortcomings. Through this workshop, participants will explore these findings alongside best practices from global companies, helping them understand how to move beyond compliance and foster a culture of transparency, accountability, and inclusive governance that benefits all stakeholders.

Program Schedule:

8:00 AM – 9:00 AM: Registration & Welcome Coffee
Attendees are welcomed and registered, with coffee served in the lobby.

9:00 AM – 9:30 AM: Opening Remarks

• Speaker: Dr. Necati Aydin, Director of the Corporate Governance Center, Alfaisal University, College of Business
• Topic: Introduction to the Workshop Objectives and the Role of the CGI in Enhancing Corporate Governance
  Dr. Aydin will open the workshop by discussing the importance of good corporate governance and how the CGI provides a comprehensive framework for assessing governance practices in Saudi Arabia. He will introduce the HBS Case Study Method and outline how case studies from Saudi and U.S. firms will be used throughout the day.

9:30 AM – 10:30 AM: Session 1

• Speaker: Prof. Oliver Hart, 2016 Nobel Laureate in Economics, Harvard University
• Topic: "Welfare Maximization vs. Profit Maximization for Shareholders"
  Prof. Hart will explore the tension between maximizing shareholder value and promoting broader social welfare.

10:30 AM – 11:00 AM: Break

11:00 AM – 12:00 PM: Session 2

 "Elevating Board Governance: Best Practices from Saudi Firms"
The session will cover best practices from leading Saudi Arabian companies, drawn from the Alfaisal CGI findings. It will highlight examples of board governance, transparency, and shareholder rights that align with global best practices while addressing the unique challenges faced by companies in the region.

12:00 PM – 1:00 PM: Lunch Break

1:00 PM – 2:00 PM: Session 3 – Safeguarding Shareholder Rights: Insights and Enhancements

• Case Study Method: Participants will examine Google's dual-class share structure and the importance of shareholder rights in driving long-term value. The discussion will explore how Saudi firms can incorporate these lessons into their governance frameworks.
• Best practices in Saudi Arabia from the CGI will be highlighted, addressing areas where shareholder engagement can be improved.

2:00 PM – 3:00 PM: Session 4 – Transparency in Action: Building Trust and Accountability

• This session will explore how transparency builds trust with stakeholders and drives long-term value. Participants will analyze transparency measures implemented by Microsoft and Salesforce, as well as best practices from Saudi firms identified in the Alfaisal CGI.
• The session will also include a group discussion on how to bridge transparency gaps in local corporate governance.

3:00 PM – 3:30 PM: Coffee Break

3:30 PM – 4:30 PM: Session 5 – Integrating Stakeholder Interests: Moving Beyond Shareholder-Centric Governance

• Case Study Method: Participants will explore Patagonia’s governance for sustainability and Salesforce’s stakeholder capitalism. The session will emphasize how firms can integrate stakeholder interests into their governance practices.
• Participants will engage in a discussion on how Saudi companies can move beyond shareholder-centric governance models to adopt more inclusive, stakeholder-driven approaches.

4:30 PM – 5:30 PM: Panel Discussion – Latest Trends and Best Practices in Corporate Governance in the Age of AI

• Panelists:
• Prof. Oliver Hart, 2016 Nobel Laureate in Economics, Harvard University
• Prof. Necati Aydin, Director of the Corporate Governance Center, Alfaisal University
• Prof. Sean Cao, Director of AI Initiative for Capital Market Research, University of Maryland
• This panel will address how AI is transforming corporate governance, with a particular focus on automating decision-making, enhancing transparency, and managing ethical challenges. The discussion will draw on case studies from U.S. and Saudi firms to explore how AI can improve governance practices and board oversight.

5:30 PM: Closing Remarks & Certificate Distribution

• Participants will receive a certificate of completion signed by the speakers and the organizer.

6:00 pm-8:00 pm Dinner

Eligible Attendees for the CG workshop:

• Board Members of Publicly Listed and Private Companies
• CEOs, COOs, and CFOs
• Corporate Governance Officers
• Chief Risk Officers
• Chief Compliance Officers
• Internal Auditors
• Legal and Regulatory Affairs Directors
• Board Secretaries
• Senior Managers in Charge of Corporate Social Responsibility (CSR)
• Investor Relations Managers
• Ethics and Compliance Managers
• HR Directors and Managers
• Strategy and Planning Executives
• Directors of Family-Owned Businesses
• Representatives from Industry Associations
• Consultants Specializing in Corporate Governance

Participation Fee: 8000 SAR/Person plus VAT