NEW STRATEGY ALIGNS
WITH NATIONAL VISION
As we present SEDCO Holding’s Annual Review for 2018, we look forward to our success story continuing with renewed focus under new leadership, despite market challenges.
2018 was a challenging year as a host of factors redefined the social and economic fabric of the region. For SEDCO, this was a chance to differentiate ourselves based on our expertise and resilience. We combatted challenges and turned them into opportunities. I am pleased to say that we emerged from 2018 a stronger organization, prepared for a dynamic, rapidly-evolving future.
We move together towards a dynamic future, with our executive leaders emphasizing performance, accountability and shareholder value. Our directorial boards are part of this change and are embracing increased responsibility. Our shareholders too are demonstrating prudence, patience and trust in our executive leadership. Their unity and support are essential to our success.
In 2018 we strengthened the bridges linking our shareholders and decision makers. In determining our future strategy, we convened two family advisory councils.
I am pleased to note that our new Focus 2025 strategy was set after in-depth consultation with our shareholders, Board members and the management team. Our channels of communication have always been open and are now being formalized in quarterly reviews with our shareholders.
Our strategy is being refined and our vision further aligned with that of the country. I aspire to see SEDCO Holding become a global concern generating prosperity for audiences around the world. Focus 2025 supports that vision, positioning us for leadership and global outperformance in crucial sectors.
In early 2018 the executive reins of the organization were taken by Hasan AlJabri, previously the CEO of SEDCO Capital. Hasan has the confidence of both the Board and our shareholders in evolving SEDCO’s overall direction.
SEDCO has long prioritized community engagement and corporate social responsibility in the best traditions of Shariah. We believe it is our duty to foster our teams and the wider community.
Our belief in employee well-being is reflected in our Great Place to Work® in Saudi Arabia ranking, where we are near the top. Now, a culture of responsibility is permeating through the organization, with everyone from line employees to directors contributing towards organizational success in measurable ways.
On behalf of the shareholders and Board of Directors, I express our gratitude to the Custodian of the Two Holy Mosques, the Crown Prince, and all government ministers. It is their leadership that is transforming Saudi Arabia and starting a process of change that brings many new opportunities. I also thank our directors for their vision and contribution. Your responsibilities are growing, as is your enthusiasm.
I save my last words for our employees, who are SEDCO’s most powerful assets. We are grateful to be able to count on you as we chart a path to the future.
Saleh Salem Bin Mahfouz