Alba was able to maintain a sound overall performance in 2011, thanks to its skilled and remarkable workforce, according to a statement issued by the Chairman of Alba’s Board of Directors, Mahmood Hashim Al Kooheji.
The statement was issued following the last quarterly meeting for the year 2011 that was held at the Ritz Carlton Bahrain.
“The 2011 will be an exceptional year as the company succeeded in demonstrating its strength and resilience despite the challenging times and was able to exceed sales & production growth targets throughout the first three quarters of 2011,” the Chairman of Alba’s board of directors, Mahmood Hashim Al Kooheji, told the company’s board.
The board examined some of the matters arising from the previous meeting, reviewed the management and human resources committee reports as well as the report prepared by the Board Audit Committee. The Board was also given an update on Alba Vision, Alba SafeWay and the Alba Star Project.
The 2012 Annual Operating Plan was approved by the executive management in addition to the 2012 Capital Expenditure Plan.
The board undertook a self-performance evaluation during the meeting to further strengthen transparency and corporate governance across the organisation.
Another announcement was made about the opening of a new sales office in Hong Kong to cater to the demands of the emerging markets of Asia.
The Alba Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company, which in addition to the Chairman of the Board, Al-Kooheji, include Fawzi Ahmed Kanoo, Yusuf Abdulla Taqi, Shaikh Mohammed bin Khalifa Al Khalifa, Osama Mohammed Al Arrayedh and David Meen. The two directors appointed by Sabic Industrial Investments Company are Mutlaq H. Al Murished, and Humood Abdulla Al Towaijri, and the independent director, Abdul Aziz Al Humaid.
The meeting was attended by Alba’s senior executive management team namely, Alba’s Chief Executive, Laurent Schmitt, Alba’s Chief Financial Officer, Tim Murray, Chief Marketing Officer, Jean Baptiste Lucas, and other company officials.
The Chairman of Alba’s Board of Directors, Mahmood Hashim Al Kooheji expressed his sincere thanks and appreciation to the Government of Bahrain, led by His Majesty King Hamad bin Isa Al Khalifa, His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa, and His Royal Highness the Crown Prince and Deputy Supreme Commander, Prince Salman bin Hamad Al Khalifa.
Al Kooheji also expressed his gratitude for the continuous support of the Kingdom of Saudi Arabia and the Custodian of the Two Holy Mosques King Abdullah bin Abdul-Aziz Al Saud.
The board expressed thanks and appreciation to the senior executive management team, the managers, Alba employees and their representatives in the Alba Labour Union for their hard work, and their support to enhance and develop the company’s operations.