ACWA constitutes an international advisory board
The board will contribute to the company's strategic vision
Saudi Arabia's ACWA Power has established an international advisory board and has appointed the chairman and three members; Dr. Abdullah I El-Kuwaiz (Chairman), Kim Jong-Yong, Henri Meyers and Rachid Mohamed Rachid.
Introducing an added depth to the company's corporate governance, ACWA Power has created this board to provide an independent contribution to the company's strategic vision and expansion plans and to shed more light on specific knowledge on the wider geographic platform across which ACWA Power is already operating. The board will act as mentor and supplements the expertise of the board of directors in the wider field of ACWA Power's operations and be an ambassadorial liaison that could support the operations of the business.
Mohammad Abunayyan, ACWA Power chairman, stated "As the company grows rapidly, we have strengthened the company by recruiting seasoned experienced professionals in the main areas of operation. In assuring best practices in corporate governance and strategic development the board is now seeking the advice of world renowned experienced professionals in economy, political risk, technology and international markets. We are sure the advisory board will contribute to the company overall strategies and mission and play an instrumental role in achieving the company's next five year strategic objectives."
Abunayyan added "The Advisory Board will advise the Board of Directors on strategies, vision, geographical growth and new market penetration. As ACWA Power expands into new regions and markets the Advisory Board will assist the Board of Directors in assessing the feasibility of new technology and fuel mixes beyond oil and gas to include coal and all forms of renewable energy. Its members will also advise on political risk parameters, market potential and expected economic viability and stability of new markets and expansion in markets where ACWA Power currently operates."