JEDDAH: The Balubaid Group of Companies (BGC), which operates in six different sectors of business, organized a signing ceremony to usher in a new family governance concept at a ceremony at Laylaty Hall on Tuesday night.
The ceremony was held in the presence of Omar A. Balubaid, founder and chairman of the board of directors of BGC, his sons, senior executives of the group, business partners from franchises and financial institutions, consultants and dignitaries.
“Today, BGC stands out as a major company that has successfully diversified into automotive, light industries, service equipment, food retailing, consumer finance and real estate. The family governance concept has been evolved to further commit itself to successful growth with a vision toward new opportunities and expansion,” Khalid O. Balubaid, executive vice president of BGC, told a press conference prior to the signing ceremony.
He said the board of directors of the group would have the overall responsibility of the group involving all aspects including its strategic plans and budgets.
