Presentation by Ms. Alissa Kole at Alfaisal University
On October 8, 2025, Alfaisal University’s Corporate Governance Center hosted a session titled “The State of Corporate Governance in Saudi Arabia: Insights from the Boardroom,” presented by Ms. Alissa Kole, Senior Advisor at GOVERN, a leading Middle Eastern corporate governance consultancy. The event brought together over 25 students, faculty members from various colleges, and board members from major Saudi companies. The Dean of the College of Business and the Director of the Corporate Governance Center were also in attendance, underscoring the university’s commitment to governance education.
Ms. Kole began by outlining key principles of effective corporate governance: transparency, accountability, and board independence. She emphasized the vital role independent directors play in enhancing oversight and reducing conflicts of interest. Drawing on GOVERN’s recent study of approximately 100 Saudi companies conducted between 2022 and 2024, she highlighted a clear trend—companies are increasingly adopting majority-independent board structures, signaling improved alignment with global practices.
She discussed board committee structures, noting that while audit and remuneration committees are required by regulation, governance committees, though highly beneficial, are still optional. She also explained how governance obligations differ across sectors; for instance, banks and insurance firms are required to form executive and risk committees due to stricter regulatory demands.
Ms. Kole shared data comparing corporate governance practices in Saudi Arabia with the GCC and global benchmarks. Key metrics included board size, gender diversity, compliance, and remuneration across small, medium, and large companies. A notable finding was that board compensation in Saudi banks is the highest in the country but remainslower compared to European board pay levels. These differences, she explained, stem from varying regulatory maturity, cultural expectations, and evolving director responsibilities.
The session featured active dialogue, with students and faculty asking questions on committee structures, enforcement, and real-world governance challenges. Ms. Kole used detailed visuals to provide clear, data-supported responses, making the session informative and engaging.
With over 15 years of experience advising multinational corporations and government entities, Ms. Kole brings deep expertise to her role at GOVERN, where she helps clients across the region strengthen governance through international standards and data-driven strategies.
This session is part of an ongoing collaboration between GOVERN and Alfaisal University’s Corporate Governance Center. Ms. Kole will present further insights from their research during the Annual Corporate Governance Conference hosted by the Center on December 17–18, 2025, which will gather academics, regulators, and industry leaders to explore regional and global governance trends.
As Saudi Arabia moves forward with its Vision 2030 objectives, strong governance frameworks are key to building investor trust, ensuring transparency, and supporting sustainable economic growth. Events like this reflect Alfaisal University’s active role in connecting academic, business, and policy to drive meaningful governance progress.
Ms. Alissa Kole delivering a detailed presentation on corporate governance principles and trends in Saudi Arabia.
Ms. Alissa Kole pictured with Dr. Bajis Dodin, (Dean of the College of Business) and Dr. Necati Aydin, (Director of the Corporate Governance Center at Alfaisal University).
