We are committed to the highest standards of ethical business conduct. Good governance practices are vital to ensuring that we achieve our corporate objectives and meet the expectations of our stakeholders.
Our Board of Directors is the decision-making body for all matters identified as material to the strategic and financial functioning of the company. The Board consists of seven highly qualified individuals selected by our shareholder, Industries Qatar (IQ), under a General Assembly resolution ensuring that chosen members possess the relevant and necessary experience.
The Board reviews Qatar Steel’s performance during General Assembly meetings, where reports on the previous year’s results and future prospects are presented for discussion. The General Assembly meeting further provides an opportunity to discuss potential discharging of Board members. The Board is mandated to meet at least four times per year.
Board of Directors*
Mr. Saad Rashid Al-Muhannadi
Mr. Abdulla Ghaith Al-Kuwari Vice
Mr. Ali Bin Hassan Al-Muraikhi
Managing Director and General Manager
Sh. Saoud Bin Abdulrahman Al-Thani
Mr. Ibrahim Akbar Ali Mulla
Mr. Rashid Ali Al-Dosari
Mr. Abdulla Mohamed Al-Mahmoud
* With effect from April 26th, 2015In 2015 we will create additional structures to help us to better govern our external stakeholder engagement and implementation of our sustainability priorities.
Our Board committees are formed by the Board in accordance with the company’s strategic and organisational requirements. We currently have three such committees:
Tender Committee – a permanent committee that searches for methods of procurement with prescribed financial limits.
Audit Committee – a committee that reviews the effectiveness of the Internal Audit function.
Ethics Commitee – a committee that oversees compliance with the ethics and business conduct policy.
Accountability and Ethics
At Qatar Steel, we firmly believe in accountability and ethics. This requires our strict adherence to honesty and transparency and our commitment to the ethics of fair dealing, open transparency, and conduct integrity. This commitment is based on the requirements of law, and more importantly is grounded in the moral values of honesty and fairness.
Qatar Steel has adopted sound ethical standards as part of its unending quest for excellence in every aspect of its work. Our Code of Ethics and Business Conduct represents a key tool in our efforts to make Qatar Steel a shining example of good corporate governance. It serves as the foundation of the superior organisational culture to which we aspire.
All employees and members of Qatar Steel’s Board of Directors are expected to conduct their operations and discharge their duties and responsibilities in a manner consistent with the company’s Code of Ethics & Business Conduct and with all applicable laws. According to this policy, ‘the company will not permit and has never permitted a conflict of interest on the part of its employees nor its Directors. Accordingly, no employee or Director shall knowingly become involved in a conflict of interest, or upon discovery thereof, allow such a conflict of interest to continue.’