Ooredoo Q.P.S.C.
Ooredoo’s Board of Directors Issues Two Resolutions to Enhance Governance Framework and Board Charter in Line with Global Best Practices, Adding ESG to Committee Mandates
Doha, Qatar, 24 December 2024: Ooredoo Q.P.S.C. (“Ooredoo”) – Ticker: ORDS today announced the issuance of two new resolutions for 2024. The first pertains to updating the company’s governance framework, and the second involves revising the Board Charter, aiming to elevate standards of transparency, accountability, and compliance with global best practices in corporate governance.
This updated governance framework is aligned with Qatar Financial Markets Authority (QFMA) directives and a comprehensive set of local and international regulations designed to ensure sound governance practices across the company, reflecting its commitments to stakeholders.
This strategic initiative by the Board seeks to strengthen the governance principles adopted in global markets. It aims to enhance the company’s governance structure by establishing clear and transparent procedures for allocating powers and responsibilities while further empowering oversight and accountability. Additionally, environmental, social, and governance (ESG) considerations have been integrated into the mandate of one of the Board committees as part of this update, underscoring Ooredoo's commitment to supporting sustainable development and corporate social responsibility.
Aziz Aluthman Fakhroo, Group CEO of Ooredoo, said: "The issuance of the updated governance framework and Board Charter reflects our steadfast commitment to adopting the highest standards of transparency and global governance practices. This initiative ensures our dedication to balancing shareholder rights protection, enhancing integrity, and activating the Board’s role. Furthermore, adhering to the QFMA’s governance decisions provides a robust legal framework that strengthens our credibility with shareholders and stakeholders alike."
Hilal Bin Mohammed Al-Khulaifi, Group Chief Legal, Regulatory, and Corporate Governance Officer, emphasised: "This updated governance framework is a key milestone in strengthening transparency, accountability, and risk management across Ooredoo, aligning us with the highest international standards. By incorporating ESG into Board committee mandates, we are reinforcing our commitment to sound governance and sustainable practices, ensuring we remain competitive and well-positioned for future growth."
These resolutions demonstrate Ooredoo's dedication to providing a modern governance framework that meets market needs and supports the company’s strategic vision. By adopting global best practices and adhering to QFMA’s directives, Ooredoo reaffirms its commitment to leadership in sound governance and building trust with its shareholders and stakeholders.
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About Ooredoo
Ooredoo is an international communications Company operating across the Middle East, North Africa, and Southeast Asia. It serves consumers and businesses in nine countries, delivering Ooredoo a broad range of content and services through its advanced, data-centric mobile and fixed networks.
As of 31 December 2023, Ooredoo generated full-year Revenue of QAR 23 billion. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.
