A family-owned conglomerate based in Jeddah, Saudi Arabia, involved in various sectors including transportation, hospitality, construction, Hajj & Umra, travel & tourism, and human resources. The founder has managed the conglomerate for 30 years.
The project aimed to address the challenges faced by a diverse stakeholder base in a family-owned conglomerate that lacked a structured approach to governance. TDM designed a hybrid governance model that balances cost-saving measures with the need for a strong entrepreneurial spirit. Key components included defining the type and size of the board of directors, specifying their skills, and ensuring accountability through the establishment of KPIs.
The governance model also delineated the duties and responsibilities of the board and its committees, promoting autonomy in decision-making. Additionally, a family governance model and succession plan were delivered to facilitate family engagement in business operations. The implementation of a holding company structure was proposed to streamline shared services and improve operational efficiency, addressing the dual challenge of maintaining the founder's benefits while mitigating potential drawbacks as the company continues to grow and diversify.
