Corporate governance is at the core of many of MASCO’s board meetings, where we aim to create a better company structure and lead the team in a more futuristic manner, a way where all the team members could have a vote and show their own viewpoints. Yet we try to keep this to a limit, to keep it organized and reduce any confusion and inorganization that could be caused by such a manner. We have the best of both worlds, a strong structure with a startup spirit.
The Board believes that this approach is in MASCO’s best interests. It is well suited to the group’s highly trained team while keeping the board in control. This process entails considerable delegation of responsibility to operational managers, while instilling a culture of all-round performance in the team, spearheaded by the board members.
Although each division is organized in a manner allowing it to function independently under the supervision of its company officers, the group must be steered at the highest level by a leader able both to guide the divisions as they expand their operations, particularly outside the Kingdom of Saudi Arabia, and to implement the overall strategy approved by MASCO’s board members.
This system of governance, which has proven effective for many years, requires the Chairman and Chief Executive Officer to have a deep understanding of the group and its business lines as well as the experience needed to share this understanding with the members of the board from a strategic perspective. But he must also lead the dissemination of a shared culture while garnering the strong and ongoing commitment of the group’s entities and their many managers to living its core values.
The leadership of Abdulrahman Al Sweilam, CEO and Chairman of MASCO helped the company cover all the aspects needed for MASCO to leap into the 21st century. He makes sure that the strategy is followed as it should, keeping everything inline and managing the teams from a bird-eye’s perspective.
Organisation and supervision of the work of the Board
Implementation of decisions taken
Operational management of the Group
Appointment or renewal of the terms of office of the Chairman and Chief Executive Officer and the Vice-Chairman.
Prior approval of strategic choices
Prior approval of all transactions referred to the Strategy and Executive Committee
Prior approval of all transactions that fall outside the company’s announced strategy
Chairmanship of the Strategy and CSR Committee
Representation at the request of the Chairman and Chief Executive Officer
Insight provided to the Board on the Group’s operations
Working relationship with the Group’s main managers
Participation in meetings with shareholders or proxy advisers at the request of the Chairman and Chief Executive Officer
Mr. Abdulrahman Al Swailem has served as both Chairman of the Board and Chief Executive Officer of MASCO group. The Board reappointed him to these positions as he was best suited to lead the company towards success leading the company towards the 21st century.
He regularly presents MASCO’s performance, prospects and strategy to the board community, in particular through roadshows. He also lays down the roadmap for the executive team to follow where they all work together to reach the best solutions to different problems.
Mr. Abdulrahman Al Swailem has appointed Abdalla Almogbil Vice-President of Al Swailem Group (MASCO).
He has formed the Executive Committee comprising the Group’s main operational and functional executives, which had 14 members as of June 2020. The executive team has been a hard work where Mr. Abdulrahman Al Swailem has tirelessly worked to gather the best of talents anyone could find regionwide.
Apart from implementing the Group’s strategy, the Executive Committee defines and monitors the implementation of its cross-cutting policies, particularly in the areas of risk management, finance, human resources, safety, IT, insurance among many other tasks.
Mr. Abdalla Almogbil has been appointed by Mr. Abdulrahman Al Swailem and the board members as the vice chairman of Al Swailem Group (MASCO).
The Vice Chairman/President works to help the board, and group as a whole, to achieve many tasks. These tasks include providing support to the Chairman, particularly with respect to representation, whenever necessary; providing insight to the Board on the Group’s organisation, its principal executives and its activities; taking part in meetings with shareholders or proxy advisers as often as required.
Procurement management is the strategic approach to managing and optimizing organizational spend. It involves acquiring quality goods and services from preferred vendors within a stipulated budget, on or before the deadline. The procurement management process includes sourcing, requisitioning, ordering, expediting, inspection, and reconciliation.
It will be no surprise to hear that relying on outdated, manual, paper-based processes to handle procurement management activities is unlikely to offer the organization optimum speed, accuracy, or efficiency. In fact, it probably will cost more more along the way. It is therefore well worth considering how digitizing our procurement management process can offer us unprecedented benefits.
For example, MASCO can benefit from automated workflows across all of our procurement activities. This means smarter performing processes with purchase requisitions, purchase orders, and invoices, making them easily trackable because they are automatically sent to the appropriate reviewers and authorized quickly and accurately. This is exactly what MASCO does at the moment.
Spend Analysis or Spend Analytics is the way toward gathering, purging, grouping and dissecting consumption information to diminish procurement costs, improving proficiency, and checking controls and consistencies. It can likewise be utilized in different zones of business.
A Process Maturity Assessment assesses the traits of an organization's procedures to decide the procedure's capacity to reliably and persistently add to accomplishing hierarchical targets. Procedures with a high capacity to add to these destinations, are viewed as developed or mature.
Opportunities and project pipeline management is a significant part of undertaking procurement management as it envelops that the work is done as expected. Opportunities and pipeline management includes steps to guarantee that descisions taken are assessed, and screened out at different phases of the procurement management process to meet key goals.
Organizational alignment is our driver toward success. We believe that the major part of success in our organization and our unique procurement management process is in how aligned our organization is, meaning that the teams are all aligned both in skills and strategy.
MASCO keeps on working to evolve with recent times. The evolution of people’s function continues to progress as everything that surrounds organizations: society, education, technology, values, economy, etc. continue to evolve. MASCO works tirelessly to train all its team members to cope with the ever-changing world we are living in.
Strategic supplier management is one of the most significant intends to drive upper hand for present day global organizations. Managing the supply chain through innovative ways and digitalizing what has been usually a norm is no longer a luxury but a must. MASCO works tirelessly to accomplish the best supplier strategy.
After taking any project, MASCO needs to asses the risks related to such a project, from the type of project itself, to the materials needed, to the workforce, among many others. Proper risk assessment is a huge part of the success of a proper procurement management process.
As it is part of our core values, MASCO aims to only tackle socially responsible projects. We also make sure that we are socially responsible while building our project, making sure that this project poses no harm to the community.
In the modern age, procurement tools evolved as anything else. Digitalization has taken over, and so is the case with procurement management processes. Digitalization and particularly IT tools are now the staple in the process, but at MASCO we keep working to innovate those tools.
To make sure our processes work, we use our unique KPI’s (Key Performance Indicators) and reporting methodologies to make sure that the processes we followed were adequately followed and successfully implemented.
