Corporate Governance
Corporate Governance
Our diverse product portfolio speaks to our mission, which remains unchanged since day one: deliver best-in-class, energy-efficient solutions and reliable products that enhance our customers’ living. Our cutting-edge, AI and robotics integrated Shaker-LG factory powers our global presence in over 20 countries, ensuring that homes, businesses, and major projects enjoy access to the latest HVAC solutions and innovative home appliances.
At Shaker Group, we take great pride in our commitment to governance excellence. As a trusted leader in the Saudi market for over 70 years, we understand the importance of maintaining the highest corporate governance standards to ensure the long-term success and stability of our business.
Our corporate governance standards are in compliance with Capital Market Authority regulations, and implemented by our expert leadership and management team, these robust governance frameworks serve as a foundation for every aspect of our operations.
At Shaker Group, we believe that effective governance is essential not only for driving the company’s performance but also fosters long-term success and builds trust with our stakeholders and clients.
Governance Objectives
Our governance framework is built around four core objectives:
Governance
Mechanisms
The governance mechanisms at Shaker Group ensure that our corporate governance principles are applied consistently across all levels of the organization.
Board of Directors
Shaker Group Board of Directors consists of accomplished leaders with extensive experience across industries spanning banking, investment, management, industry, development, and governance. This diverse and independent board embodies Shaker Group’s dedication to customer satisfaction, innovation, and sustainable growth. Our board, along with its specialized committees, ensures the highest standards of oversight and decision-making.
With decades of proven industry leadership and governance expertise between them, the Board is steering the company toward continued leadership in the HVAC and home appliance sectors. Information about the board members, their biographies, and their roles can be found in this section.
Abdulelah Abdullah Abunayyan
Abdulelah Abdullah Abunayyan
With a Bachelor’s degree in Economics from King Saud University, he has held leadership and executive positions across various public and private companies. Drawing on years of expertise in industry and commerce, his assured leadership continues to drive the company’s strategic vision today.
Musaab Suleiman Al-Muhaidib
Musaab Suleiman Al-Muhaidib
He holds an MBA from the University of Liverpool and is currently CEO of Al Muhaidib Group Entertainment Ventures, and Chairman of Masdar Building Materials.
AbdulRaouf Walid Al-Bitar
AbdulRaouf Walid Al-Bitar
is a Civil Engineer from Syracuse University. With 30 years of experience in the industrial sector, he contributes significant technical expertise to the Board.
Azzam Saud Almudaiheem
Azzam Saud Almudaiheem
holds a degree in Mechanical Engineering and is the CEO of Abunayyan Holding. His tenure as CEO of Al-Hassna Ghazi Ibrahim Shaker underscores his leadership in the engineering and industrial domains.
Rasheed Abdulrahman Alrasheed
Rasheed Abdulrahman Alrasheed
As the Managing Director at Tarabot Investments and Development and the former CEO of Arabian Water and Energy Development (ACWA), he brings a wealth of experience in investment and development.
Hussam Ali Shobokshi
Hussam Ali Shobokshi
He is currently Chairman of Saray Capital, and holds a Bachelor’s degree in Economics from the University of Pennsylvania, Wharton School of Business.
Eid bin Faleh AlShamry
Eid bin Faleh AlShamry
chairs the Audit Committee, bringing over 32 years of experience in the banking, investment, and management sectors. He holds a Bachelor of Science in Industrial Management from King Fahad University, ensuring the highest standards of financial oversight and governance.
Committee
Nominations and Remuneration Committee
Establishes and develops clear policies to enhance the remuneration within the company, ensuring their performance aligns with the company’s strategic objectives, The committee periodically reviews and recommends adjustments to these policies to the board to maintain their effectiveness.
The committee further proposes standards for board membership and executive roles, ensuring candidates meet, if not exceed, the highest integrity and capability requirements. It also oversees the nomination process, ensuring that it aligns with the company’s strategic goals and governance standards.
Musab Al-Muhaidib
Chairman of the Nomination and Remuneration
Bakr Darwish
Member of the Nomination and Remuneration Committee
Muteb Al-Qunaisi
Member of the Nomination and Remuneration
Committee
Audit Committee
plays a crucial role in maintaining the integrity and transparency of thecompany’s financial and operational processes. It is responsible for reviewing financial reports to ensure compliance with accounting standards, assessing the effectiveness of iinternal controls, and overseeing both internal and external audits. Additionally, the committee manages the risk framework to identify, assess, and mitigate potential risks. The committee also provides recommendations to the Board of Directors on auditor appointments and internal audit practices, ensuring robust governance and accountability throughout the organization.
Eid Al-Shamri
Chairman of the Audit Committee
Ahmed Al-Fraih
Member of the Audit Committee
Mohammed Al-Qurainis
Member of the Audit Committee
Executive Management
Leading Shaker Group with innovative strategies and operational excellence.
Shaker Group’s Senior Management team comprises experienced professionals who bring diverse expertise to drive the company’s strategy and achieve operational excellence.
Mohammed Abunayyan
Mohammed Abunayyan
Appointed CEO in 2020, Mohammed Abunayyan holds strategic planning credentials from London Business School and INSEAD. He also serves on the board of Abunayyan Holding, Cashew Payments, WETICO and Arabian Oud, leveraging his extensive experience to drive corporate growth and innovation.
Mazen ElGhafeer
Mazen ElGhafeer
Joining in 2022, Mazen ElGhafeer brings over 20 years of expertise in financial planning, analysis, reporting, and mergers and acquisitions. He holds an EMBA from Oxford University, strengthening Shaker Group's financial strategies and operations.
Firas AlSayegh
Firas AlSayegh
Firas Al Sayegh joined Shaker in 2018 to launch and execute the business transformation journey. He holds an MBA degree from the University of California, Riverside and has over 10 years of experience in strategy and turnarounds within various industries including FMCG, consumer retail and wholesale, manufacturing, and Automotive
Byeongwoo Park
Byeongwoo Park
With an MBA from the Helsinki School of Economics, Byeongwoo Park joined Shaker in 2018. He has 25+ years of experience in electronics, telecommunication, and HVAC B2B business, primarily with LG Electronics.
Mohammed Eldada
Mohammed Eldada
Mohammed Eldada, who joined in 2018, holds an Executive MBA from the Lebanese American University. As Vice President, he draws on over 30 years of experience in sales and marketing within the consumer electronics and home appliances sectors.
Eunjun Jung
Eunjun Jung
Eunjun Jung joined in 2021, bringing 30+ years of global experience in sales and business management of LG products. He holds a Bachelor’s degree in Applied Statistics and an MBA degree from Korea and Helsinki, Finland respectively.
Hazem Elsamanody
Hazem Elsamanody
Since 2020, Hazem ElSamanody has led supply chain operations with over 20 years of end-to-end experience. He holds a Master’s degree in International Transportation & Logistics Management from the Arab Academy for Science, Technology & Maritime Transport.
Abdullatheef Meethal
Abdullatheef Meethal
Joining in 2023, Abdullatheef Meethal has a Diploma in Electronics Engineering and over 30 years of experience in customer and product service across Saudi Arabia, Kuwait, and India.
Dr. Sultan Al Aydan
Dr. Sultan Al Aydan
Joining in 2023, Dr Sultan Al Aydan holds a PhD in Law and a Master’s in Corporate Finance Law from Westminster University in London. Starting his career at (SAMA) Central Bank of Saudi Arabia for 5 years, he brings over 12 years of experience in law practice and corporate governance.
Fahad Almusa
Fahad Almusa
Fahad Almusa has been the HR & Admin Director and joined Shaker Group in 2016. Having held leadership roles at PepsiCo and Al-Rabea Food Company, he brings over 18 years of experience across sectors such as FMCG and property management. He holds a degree in International Business Administration from King Abdulaziz University.
Muhammad Bilal Khan
Muhammad Bilal Khan
With over 25 years of experience in IT, infrastructure, and digital transformation, he has worked across sectors like FMCG and aviation, and leading groundbreaking ERP implementations. He holds an MBA from the Institute of Business Management, Pakistan.
Internal Policies & Charter
Play a critical role in improving the efficiency of operations by ensuring that processes are streamlined and consistent.
Governance Charter
This regulation outlines the framework guiding the company’s activities and the board of directors, focusing on achieving transparency and accountability. It aims to enhance trust among all stakeholders to ensure the achievement of the company’s strategic goals and protect shareholder interests.
Board of Directors’ Work Regulation
Membership Standards and Procedures Policy for the Board of Directors:
Remuneration Policy for Board Members and Committees:
This policy outlines the standards and procedures related to the remuneration of board members and committees, aligning with best practices to contribute to achieving the company’s goals.
Social Responsibility Policy:
Conflict of Interest Policy:
Disclosure and Transparency Policy:
Code of Conduct for the Board of Directors and Its Committees:
Code of Conduct:
Managing Relationships with Stakeholders Policy:
Whistleblower Policy:
This policy encourages employees to report any violations or illegal practices and ensures the protection of whistleblowers to maintain a safe and transparent work environment.
