Savola World Board of Trustees

The Foundation is managed by a Board of Trustees consisting of 5 members. The Article of Association states that the duration of one term of the Board of Trustees shall be four years. Savola World’s Board of Trustees was formed of five members, and they are

The Board of Trustees shall be concerned with all the functions stipulated in the Article of Association of the foundation The following is a summary of the key roles and responsibilities of Savola World Board of Trustees:

• To approve the organizational structure, the estimated budget, the strategic plan, the main action plan and to ensure implementation, in addition to managing the financial resources and investing the surplus to achieve the sustainability of the financial resources of the foundation.
• To Adopt and supervise the internal control systems, and governance regulations that do not conflict with the foundation’s Article of Association.
• To adopt and announce a written policy that organizes the relationship with the beneficiaries of services.
• To perform annual review of the effectiveness of internal control systems of the foundation.
• To provide the Ministry with the necessary reports, data and information about the foundation according to the forms approved by the Ministry. And to cooperate in preparing the Annual and follow-up reports and updating the foundation’s data on an annual basis.
• To supervise the preparation and approval of the estimated budget for the new fiscal year.
• To appoint a dedicated Executive Director for the foundation, defining his authority and following up on his performance.
• To inform the Ministry of every change that occurs in the members of the Board of Trustees, the Executive Director and the Financial Director, within one month from the date of the change.
• To establish policies and procedures to ensure the compliance of the foundation with the rules and regulations and commitment to disclosing essential information to the beneficiaries, the Ministry and the supervising authority, if any, and to the different stakeholders.
• To manage the foundation in accordance with the law, its executive regulations, Article of Association and its rules and instructions.