Towards a brighter future
2021 was a positive year for SEDCO Holding and for Saudi Arabia despite COVID-19 continuing to remain a global threat.
“OUR ETHICAL MODEL OF DIVERSIFIED INVESTING FOLLOWING SHARIAH PRINCIPLES HAS BUILT-IN SAFEGUARDS TO WITHSTAND CHALLENGES, ALLOWING STRONG PERFORMANCE ACROSS THE GROUP.”
The pandemic highlighted the need for business resilience, and SEDCO Holding was equal to the task. Our ethical model of diversified investing following Shariah principles has built-in safeguards to withstand challenges, allowing strong performance across the Group. Our local and regional healthcare businesses performed excellently, and our realestate portfolio was brought in line with a vertical strategy to streamline future growth.
We also used the year to review our corporate governance framework and forged ahead with a program of digital transformation and succession planning.
Looking ahead, we will continue following our Focus 2025 strategy that aligns our investments with crucial high-potential industry sectors that support the goals of the Saudi Vision 2030. A number of divestments and new investments were finalized during 2021 to maintain this strategic focus, and we are looking forward to compelling opportunities throughout the Kingdom in the year to come.
Our impressive talent pool and strong corporate values hold us in good stead. Yet, as we grow and become an increasingly diverse organization, we must value the importance of good communication and embed it further into our corporate culture.
We also have a responsibility to create jobs, further our Saudization goals, and identify the next generation of business leaders to ensure the Group continues its story of success.
I express thanks, on behalf of our shareholders and Board of Directors, to the Custodian of the Two Holy Mosques; the Crown Prince, Deputy Prime Minister and Minister of Defense; and all government ministers for their continued wisdom and guidance. I also pay tribute to our shareholders for supporting the SEDCO Holding Board and executive team.
The Board once again demonstrated vision and dedication and was ably supported by our boards and management teams, whose proactive approach and decisiveness were commendable. I thank them, and all members of the SEDCO Holding team, for their loyalty and dedication.
I take this opportunity to thank Hasan AlJabri, our outgoing CEO, for his sterling service, and to welcome Rayyan Nagadi to the team as our new CEO and wish him the very best.
Saleh Salem Bin Mahfouz