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Khalid Al Rumaihi

Chairman of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Chairman of the Board Executive & ESG Committee
Chairman of the Nomination, Remuneration and Corporate Governance Committee

Non-Executive /Non-Independent Member since October 2023

EXPERIENCE
  • Currently, the Executive Chairman of Amriya Group since May 2023.
  • Currently, a Board member of Mumtalakat since 2015, the Bahrain Economic Development since 2014, and Bapco Energies since 2019.
  • Currently, a member of the Advisory Board of Harvard Business School Middle East and North Africa since 2021.
  • Former Chief Executive Officer of Mumtalakat (2019-2023).
  • Former Chief Executive Officer of Bahrain Economic Development (2015-2019).
  • Former Managing Director of Investcorp (2002-2012).
  • Former Head of Private Client Group at JP Morgan (1993-2002).
  • Former Chairman of Bahrain Real Estate Investment Company (2017-2023), Bahrain Development Bank (2016-2022), and Bahrain Airport Company (2011-2015). He also held Board positions at the McLaren Group, the National Bank of Bahrain, Gulf Air and Securities Investment Company.
QUALIFICATION
  • Master in Public Policy specializing in Economic Development from Harvard University, US.
  • Bachelor of Science in Foreign Service from Georgetown University, US.

  • Currently, the Executive Chairman of Amriya Group since May 2023.
  • Currently, a Board member of Mumtalakat since 2015, the Bahrain Economic Development since 2014, and Bapco Energies since 2019.
  • Currently, a member of the Advisory Board of Harvard Business School Middle East and North Africa since 2021.
  • Former Chief Executive Officer of Mumtalakat (2019-2023).
  • Former Chief Executive Officer of Bahrain Economic Development (2015-2019).
  • Former Managing Director of Investcorp (2002-2012).
  • Former Head of Private Client Group at JP Morgan (1993-2002).
  • Former Chairman of Bahrain Real Estate Investment Company (2017-2023), Bahrain Development Bank (2016-2022), and Bahrain Airport Company (2011-2015). He also held Board positions at the McLaren Group, the National Bank of Bahrain, Gulf Air and Securities Investment Company.

  • Master in Public Policy specializing in Economic Development from Harvard University, US.
  • Bachelor of Science in Foreign Service from Georgetown University, US.
SHAIKH ISA BIN KHALID AL KHALIFA

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Chairman of the Board Audit Committee

Non-Executive / Independent Member since March 2020

EXPERIENCE
  • Founder and Managing Director of Seaspring W.L.L., a Bahrain [1] based international investment consultancy firm with a strategic focus on bringing distinct investment solutions from various sectors including, but not limited to, healthcare, biotech, technology, and cybersecurity to the Gulf region.
  • Oversaw the growth equity financing of Biotricity Inc., a leading remote cardiac telemetry company based in Redwood City, California, and My Next Health which is a genomic-based AI and quantum platform healthcare company in Toronto, Ontario.
  • Prior to establishing Seaspring W.L.L., he was a private equity associate with Oasis Capital Bank B.S.C.© in Bahrain where he helped raise over US$245 million in paid up capital and set-up a clean tech-focused fund.
  • Formerly an Assistant Manager of the Corporate Banking & Finance at Citigroup Inc. where he played a key role in arranging the refinancing for Alba’s Potline 5 Expansion.
QUALIFICATION
  • Master of Science in Global Financial Analysis from Bentley University, Waltham, MA.

  • Founder and Managing Director of Seaspring W.L.L., a Bahrain [1] based international investment consultancy firm with a strategic focus on bringing distinct investment solutions from various sectors including, but not limited to, healthcare, biotech, technology, and cybersecurity to the Gulf region.
  • Oversaw the growth equity financing of Biotricity Inc., a leading remote cardiac telemetry company based in Redwood City, California, and My Next Health which is a genomic-based AI and quantum platform healthcare company in Toronto, Ontario.
  • Prior to establishing Seaspring W.L.L., he was a private equity associate with Oasis Capital Bank B.S.C.© in Bahrain where he helped raise over US$245 million in paid up capital and set-up a clean tech-focused fund.
  • Formerly an Assistant Manager of the Corporate Banking & Finance at Citigroup Inc. where he played a key role in arranging the refinancing for Alba’s Potline 5 Expansion.

  • Master of Science in Global Financial Analysis from Bentley University, Waltham, MA.
OMAR AL AMOUDI

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Member of the Board Executive & ESG Committee

Non-Executive / Non-Independent Member since March 2019

EXPERIENCE
  • Chairman of the Board of Directors of PETROKEMYA since 2023.
  • Chairman of TATWEER Building Company since 2023.
  • Chairman of the Board of Directors of HADEED (2021 – 2024).
  • Former Executive Vice President, SABIC Global Engineering & Project Management (2016).
  • Former Executive Vice President, SABIC Shared Services (2013).
  • Former Chairman of the Board of Directors of SPECIALTY CHEM, Gas & Arrazi and Saudi Kayan.
  • Former Board Member of SHARQ, PETROKEMYA, IBN RUSHD, SADAF, Ibn Sina and MARAFIQ.
  • Former Board Member of Gulf Coast Growth Ventures.
  • Former President of PETROKEMYA and Ibn Zahr (2006 – 2013).
QUALIFICATION
  • Bachelor of Science in Chemical Engineering from the King Fahd University of Petroleum and Minerals (KFUPM), Saudi Arabia.
  • Masters in Chemical Engineering from Drexel University, USA.

  • Chairman of the Board of Directors of PETROKEMYA since 2023.
  • Chairman of TATWEER Building Company since 2023.
  • Chairman of the Board of Directors of HADEED (2021 – 2024).
  • Former Executive Vice President, SABIC Global Engineering & Project Management (2016).
  • Former Executive Vice President, SABIC Shared Services (2013).
  • Former Chairman of the Board of Directors of SPECIALTY CHEM, Gas & Arrazi and Saudi Kayan.
  • Former Board Member of SHARQ, PETROKEMYA, IBN RUSHD, SADAF, Ibn Sina and MARAFIQ. .
  • Former Board Member of Gulf Coast Growth Ventures.
  • Former President of PETROKEMYA and Ibn Zahr (2006 – 2013).

  • Bachelor of Science in Chemical Engineering from the King Fahd University of Petroleum and Minerals (KFUPM), Saudi Arabia.
  • Masters in Chemical Engineering from Drexel University, USA.
AHMED ALDURIAAN

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Member of the Nomination, Remuneration and Corporate Governance Committee

Non-Executive / Non-Independent Member since March 2020

EXPERIENCE
  • General Manager of Finance Affiliate Affair since July 2024.
  • Currently, General Manager of Divestment at Merger & Acquisition unit at SABIC since September 2023 & Executive General Manager of SABIC Industrial Investment.
  • Currently, Board Member of Nusand company since November 2024.
  • Currently, Board Member of Ma’aden Phosphate Company (MPC) since January 2023.
  • Currently, Chairman of HADEED Board Audit Committee since October 2019.
  • Currently, Board Member of Gulf Aluminium Rolling Mill Company B.S.C. (c) (GARMCO) since March 2016.
  • Currently, Executive General Manager of SABIC Investment Company since July 2018.
  • Formerly, Board Member of HADEED from June 2017 till June 2021.
  • Prior to his current role, he was Director of Mergers & Acquisitions Execution Department in SABIC and Board member of SABIC Polymer in Turkey from 2007-2011.
QUALIFICATION
  • Bachelor’s in Mining Engineering from King AbdulAziz University, Kingdom of Saudi Arabia.

  • General Manager of Finance Affiliate Affair since July 2024.
  • Currently, General Manager of Divestment at Merger & Acquisition unit at SABIC since September 2023 & Executive General Manager of SABIC Industrial Investment.
  • Currently, Board Member of Nusand company since November 2024.
  • Currently, Board Member of Ma’aden Phosphate Company (MPC) since January 2023.
  • Currently, Chairman of HADEED Board Audit Committee since October 2019.
  • Currently, Board Member of Gulf Aluminium Rolling Mill Company B.S.C. (c) (GARMCO) since March 2016.
  • Currently, Executive General Manager of SABIC Investment Company since July 2018.
  • Formerly, Board Member of HADEED from June 2017 till June 2021.
  • Prior to his current role, he was Director of Mergers & Acquisitions Execution Department in SABIC and Board member of SABIC Polymer in Turkey from 2007-2011.

  • Bachelor’s in Mining Engineering from King AbdulAziz University, Kingdom of Saudi Arabia.
TIM MURRAY

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Member of the Board Executive & ESG Committee

Non-Executive / Independent Member since March 2020

EXPERIENCE
  • CEO of Cardinal Virtues Consulting Inc. with over 20 years of executive leadership experience.
  • Recently published his first book “CEO Words of Wisdom (WoWs)”. The WoWs deliver practical life lessons to help you survive and thrive in the Post COVID world.
  • Spent 12 years with Aluminium Bahrain B.S.C. (Alba) where he was the CEO since 2012 till August 2019.
  • Played an instrumental role in the US$3 billion Line 6 Expansion Project, which was commissioned on-time and significantly under budget.
  • An expert in Safety Management and played a key role in the transformation of Alba’s Safety culture.
  • 10 years with ARC Automotive Inc. where in his last role, he was Vice President and Chief Financial Officer.
  • Key role in the building of greenfield manufacturing facilities in both Mexico and China.
  • Tim is an avid reader and an Adjunct Professor at Susquehanna University teaching classes on the impact of CEO leadership.
QUALIFICATION
  • MBA from Vanderbilt University, USA
  • Degree in Accounting from Susquehanna University, USA.
  • A member of the American Institute of CPAs

  • CEO of Cardinal Virtues Consulting Inc. with over 20 years of executive leadership experience.
  • Recently published his first book “CEO Words of Wisdom (WoWs)”. The WoWs deliver practical life lessons to help you survive and thrive in the Post COVID world.
  • Spent 12 years with Aluminium Bahrain B.S.C. (Alba) where he was the CEO since 2012 till August 2019.
  • Played an instrumental role in the US$3 billion Line 6 Expansion Project, which was commissioned on-time and significantly under budget.
  • An expert in Safety Management and played a key role in the transformation of Alba’s Safety culture.
  • 10 years with ARC Automotive Inc. where in his last role, he was Vice President and Chief Financial Officer.

  • MBA from Vanderbilt University, USA
  • Degree in Accounting from Susquehanna University, USA.
  • A member of the American Institute of CPAs
ROSELYNE RENEL

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Member of the Board Audit Committee

Non-Executive / Independent Member since February 2023

EXPERIENCE
  • Currently, she is the Group Chief Credit Officer at Lloyds Banking Group (LBG) since 2020 overseeing credit risk globally.
  • Formerly at Standard Chartered Bank (SCB) for 6 years where she was the Group Chief Credit Officer and led the SCB Enterprise Risk Management (ERM) Function.
  • Formerly the Chief Risk Officer at the Standard Bank of South Africa for 2.5 years for the Corporate and Investment Banking division.
  • Formerly the Chief Credit Officer for Emerging Markets, Global Markets and Global Banking at Deutsche Bank for over 16 years.
QUALIFICATION
  • Senior Executive Advanced Management Programme - University of Columbia, USA.
  • Credit Graduate Programme from JP Morgan.
  • Advanced Certification in Accounting and Bookkeeping from London Chamber of Commerce.

  • Currently, she is the Group Chief Credit Officer at Lloyds Banking Group (LBG) since 2020 overseeing credit risk globally.
  • Formerly at Standard Chartered Bank (SCB) for 6 years where she was the Group Chief Credit Officer and led the SCB Enterprise Risk Management (ERM) Function.
  • Formerly the Chief Risk Officer at the Standard Bank of South Africa for 2.5 years for the Corporate and Investment Banking division.
  • Formerly the Chief Credit Officer for Emerging Markets, Global Markets and Global Banking at Deutsche Bank for over 16 years.

  • Senior Executive Advanced Management Programme - University of Columbia, USA.
  • Credit Graduate Programme from JP Morgan.
  • Advanced Certification in Accounting and Bookkeeping from London Chamber of Commerce.
OMER SYED

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Member of the Nomination, Remuneration and Corporate Governance Committee

Non-Executive / Non-Independent Member since February 2023

EXPERIENCE
  • Currently, the Chief Investment Officer at Mumtalakat since 2021.
  • Formerly, Senior Vice President at DICO Group focused on the Group’s Private Equity investments (January 2020 - January 2021).
  • Raised, deployed and managed Abraaj Turkey Fund since its inception in 2015 and was previously evaluating regional opportunities for Abraaj across global emerging markets since 2007.
  • Started his Private Equity career in 2001 at American Capital with a major focus on US Private Equity across sectors.
  • Began his career in Financial Services at Price Waterhouse Coopers (PwC) in 1998 focused on Audit and Business Advisory Services before moving to Transaction Services.
  • Currently, he serves on the Boards of McLaren Group, McLaren Racing, Gulf Cryo, ProDrive & Bahrain Food Holding Company
QUALIFICATION
  • Masters in Accounting from Concordia University, Canada.
  • Bachelor of Science in Chemical Engineering with a minor in Management from McGill University, Canada.
  • A Chartered Accountant (CA) and Chartered Financial Accountant (CFA).
  • International Board / Corporate Governance Certification from INSEAD, France.

  • Currently, the Chief Investment Officer at Mumtalakat since 2021.
  • Formerly, Senior Vice President at DICO Group focused on the Group’s Private Equity investments (January 2020 - January 2021).
  • Raised, deployed and managed Abraaj Turkey Fund since its inception in 2015 and was previously evaluating regional opportunities for Abraaj across global emerging markets since 2007.
  • Started his Private Equity career in 2001 at American Capital with a major focus on US Private Equity across sectors.
  • Began his career in Financial Services at Price Waterhouse Coopers (PwC) in 1998 focused on Audit and Business Advisory Services before moving to Transaction Services.
  • Currently, he serves on the Boards of McLaren Group, McLaren Racing, Gulf Cryo, ProDrive & Bahrain Food Holding Company.

  • Masters in Accounting from Concordia University, Canada.
  • Bachelor of Science in Chemical Engineering with a minor in Management from McGill University, Canada.
  • A Chartered Accountant (CA) and Chartered Financial Accountant (CFA).
  • International Board / Corporate Governance Certification from INSEAD, France.
BRUCE COX

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Member of the Board Executive & ESG Committee

Non-Executive / Independent Member since February 2023

EXPERIENCE
  • Currently, he serves on the Advisory Board for Ajlan & Bros Holdings since December 2021.
  • Currently, he serves as a Non-Executive Director and Chairman of the Audit Committee for Aurelia Metals (ASX listed company) since August 2022.
  • Currently, he serves as a Non-Executive Commissioner of PT United Tractors Tbk (Indonesian listed mining and services company) since March 2024.
  • Currently, Board Mentor for CriticalEye Peer-to-Peer Board Community since October 2024.
  • Former CFO of Rio Tinto Aluminium (2019-2020).
  • Former Managing Director of Pacific Operations for Rio Tinto Aluminium (2016-2018).
  • Former CEO Pacific Aluminium (2013-2016) and Managing Director of Rio Tinto Diamonds (2009-2013).
  • Former Chairman and Director of the Australian Aluminium Council (2013-2018).
  • Former Chairman and Director of Tomago Smelter (2013-2018).
  • Former Chairman of Queensland Alumina Refinery (2016 - 2018) and a non-executive director of the ASX listed company Energy Resources Australia (2014-2016).
QUALIFICATION
  • Bachelor of Commerce and Master of Business Administration from the University of Wollongong, Australia.
  • Graduate of the Australian Institute of Company Directors.

  • Currently, he serves on the Advisory Board for Ajlan & Bros Holdings since December 2021.
  • Currently, he serves as a Non-Executive Director and Chairman of the Audit Committee for Aurelia Metals (ASX listed company) since August 2022.
  • Currently, he serves as a Non-Executive Commissioner of PT United Tractors Tbk (Indonesian listed mining and services company) since March 2024.
  • Currently, Board Mentor for CriticalEye Peer-to-Peer Board Community since October 2024.
  • Former CFO of Rio Tinto Aluminium (2019-2020).
  • Former Managing Director of Pacific Operations for Rio Tinto Aluminium (2016-2018).
  • Former CEO Pacific Aluminium (2013-2016) and Managing Director of Rio Tinto Diamonds (2009-2013).
  • Former Chairman and Director of the Australian Aluminium Council (2013-2018).
  • Former Chairman and Director of Tomago Smelter (2013-2018).
  • Former Chairman of Queensland Alumina Refinery (2016 - 2018) and a non-executive director of the ASX listed company Energy Resources Australia (2014-2016).

  • Bachelor of Commerce and Master of Business Administration from the University of Wollongong, Australia.
  • Graduate of the Australian Institute of Company Directors.
JIHAD ALI HAKAMY

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Member of the Board Audit Committee

Non-Executive / Non-Independent Member since June 2024

EXPERIENCE
  • Currently, the General Manager and Chief Counsel for Saudi Basic Industries Corporation (SABIC) in their Riyadh Head Quarters.
  • Currently, he serves as a board member in the Saudi Industrial Investment Company (Dussur) and sit at the board audit, risk and compliance committee.
  • Started his career journey as a field engineer in the energy sector, providing technical advisory and successfully managing power plants installations across USA, Mexico, and the Kingdom of Saudi Arabia.
QUALIFICATION
  • Juris Doctor degree from New York Law School, 2014.
  • Master Degree in International Business from Florida International University, 2010.
  • Bachelor degree in Engineering Science from King Fahd University, 2004.

  • Currently, the General Manager and Chief Counsel for Saudi Basic Industries Corporation (SABIC) in their Riyadh Head Quarters.
  • Currently, he serves as a board member in the Saudi Industrial Investment Company (Dussur) and sit at the board audit, risk and compliance committee.
  • Started his career journey as a field engineer in the energy sector, providing technical advisory and successfully managing power plants installations across USA, Mexico, and the Kingdom of Saudi Arabia.

  • Juris Doctor degree from New York Law School, 2014.
  • Master Degree in International Business from Florida International University, 2010.
  • Bachelor degree in Engineering Science from King Fahd University, 2004.
HALA MUFEEZ

Member of the Board of Directors of Aluminium Bahrain B.S.C. (Alba)
Member of the Board Audit Committee

Non-Executive / Non-Independent Member since February 2023

EXPERIENCE
  • Chief Financial Officer at Bapco Upstream since October 2023 and responsible for overseeing the Finance, Supply Chain and Management Accounting functions. Mrs. Mufeez joined Bapco Upstream in 2010, leading the Finance function where her role focused on financial planning as well as analysing the Company’s financial strengths and weaknesses.
  • Former Principal – Risk Management and Compliance Officer & Money Laundering Reporting Officer in First Investment Bank (2007-2010).
  • Former Senior Manager – Risk Management and Compliance Officer at Bahrain Islamic Bank (2005-2007).
  • Former Manager Planning Control at Bank of Bahrain and Kuwait (2000-2005).
  • Started her career at Ernst & Young by managing external audits across various industries (1996-2000).
  • Board member at Bapco Gas and Bapco Gas Expansion where she is also the Chairperson of the Audit Committee (2022 till date).
QUALIFICATION
  • Bachelor of Science in Accounting from University of Bahrain.
  • Certified Public Account licensed in the State of Illinois, USA.

  • Chief Financial Officer at Bapco Upstream since October 2023 and responsible for overseeing the Finance, Supply Chain and Management Accounting functions. Mrs. Mufeez joined Bapco Upstream in 2010, leading the Finance function where her role focused on financial planning as well as analysing the Company’s financial strengths and weaknesses.
  • Former Principal – Risk Management and Compliance Officer & Money Laundering Reporting Officer in First Investment Bank (2007-2010).
  • Former Senior Manager – Risk Management and Compliance Officer at Bahrain Islamic Bank (2005-2007).
  • Former Manager Planning Control at Bank of Bahrain and Kuwait (2000-2005).
  • Started her career at Ernst & Young by managing external audits across various industries (1996-2000).
  • Board member at Bapco Gas and Bapco Gas Expansion where she is also the Chairperson of the Audit Committee (2022 till date)

  • Bachelor of Science in Accounting from University of Bahrain.
  • Certified Public Account licensed in the State of Illinois, USA.

As per Article 24 of Alba’s Articles of Association, Alba is administered by a Board of Directors consisting of 10 directors who are appointed and/or elected in accordance with Article 175 of the Commercial Companies Law for a 3-year renewable term. Alba’s recent Board term started on 26 February 2023 and will end in February 2026.

During the Annual General Meeting on 26 February 2023, Bahrain Mumtalakat Holding Co. B.S.C. (c) (Mumtalakat) appointed 6 Directors: Shaikh Daij bin Salman bin Daij Al Khalifa (retired on 08 October 2023), Shaikh Isa bin Khalid Al Khalifa, Mr. Tim Murray, Mrs. Roselyne Renel, Mr. Omar Syed, and Mr. Bruce Cox while Sabic Industrial Investments Co. (SIIC) appointed 2 Directors: Mr. Ahmed Al Duriaan & Mr. AlWalid AlSenani. Mr. Omar Al Amoudi was also appointed at the General Meeting in line with Article 26 of Alba ‘s Article of Association. In addition, Mrs. Hala Mufeez was elected during the Annual General Meeting [out of 16 candidates who have nominated themselves for the elected director membership as per the regulatory filing on 12 February 2023] by the shareholders to represent the 10% free float.

On 07 March 2024, Alba shareholders approved the appointment of Mr. Khalid Al Rumaihi as the Chairman of the Board following his appointment by Bahrain Mumtalakat Holding Co. B.S.C. (c) (Mumtalakat) on 09 October 2023 to serve in the current Board term (until 2026).

On 30 May 2024, Sabic Industrial Investments Co. (SIIC) appoints, as per Alba’s Article of Association # 24, a new Board Member for Aluminium Bahrain B.S.C. (Alba’s) Board of Directors, Mr. Jihad Ali Hakamy effective 01 June 2024 (following the resignation of Mr. AlWalid AlSenani) to serve in the current Board term until 2026 and subject to CBB and the shareholders’ approvals in the Annual General Meeting in 2025.

In compliance with the Corporate Governance Code: Principle 4 and HC High Level Control Volume 6 by CBB, an induction session was arranged on 25 June 2024 for Mr. Jihad Ali Hakamy, the newly appointed Director, for familiarisation about Alba and its Corporate Governance practices. He also received a Handbook outlining key policies and Directors’ responsibilities.

  • Term: The membership of Directors concludes at the end of the current term (2026).
  • Re-appointment/Re-election: Directors are subject to re-appointment or re-election upon term expiration.
  • Termination: The Directorship of any individual may be terminated if they breach the conditions outlined in Article 27 of the Alba’s Articles of Association.

  • Annual Performance Assessment: In accordance with Chapter Two: Section One: Principle Eight of the Corporate Governance Code, the Board and its Committees conduct an annual performance assessment (including individual evaluation) to assess their effectiveness.
  • 2024 Assessment: All Directors completed the relevant questionnaires for the year-ended 2024, and the outcomes were satisfactory.
  • Board Composition: The Board of Directors is of the opinion that the qualifications of its members match the competencies that the Board should possess collectively and individually.

  • Annual Evaluation:The Company conducts an annual independency evaluation of all Directors to determine their independent status.
  • Evaluation criteria:The evaluation adheres to the criteria outlined in Appendix 1 of the Corporate Governance Code.
  • Reporting:The results of the independency evaluation are disclosed to the Central Bank of Bahrain via the General Information Report.

The Board of Directors are remunerated fairly and responsibly for fulfilling the duties of the Board and its Committees. For 2023, Remuneration Fees were BD420,000 [BD60,000 for the Chairman and BD40,000 per Director] excluding Sitting Fees (BD70,800) and Attendance Fees (BD1,000 per Director per meeting) of BD113,000. In total, the aggregate amount for 2023 was BD603,800 in addition to Expense Allowances of BD18,377 [refer to Note 27 in Alba’s Consolidated Financial Statements of 2024]. For 2024, Attendance Fees (BD1,000 per Director per meeting) and Allowance Fees1 were paid to the Directors for attending the Board and Committee meetings during 2024. Sitting fees of BD72,000 for 2024 (part of Total Allowance for Attending Board and Committee Meetings) will be paid after the Board’s meeting on 18 February 2025 (to refer to the below table for the full breakdown of 2024 Remunerations).

The proposed Remuneration Fees for 2024 will be paid post the AGM which is scheduled to be held on 12 or 13 March 2025 and subject to the shareholders’ approvals.

Meetings of the Company’s Board of Directors are held at least quarterly or more frequently as deemed necessary. There were 7 Board Meetings in 2024 which were held on 14 February, 18 April, 14 May, 13 August, 16 September, 18 September, and 12 November. Four regular Board meetings in Q1, Q2, Q3 and Q4 of 2024 were held in person while two ad-hoc Board meetings were held virtually via Microsoft Teams on 18 April and 16 September; in addition, one Board meeting for approving Q2 & H1 2024 Financials was held virtually via Microsoft Teams on 13 August.

Pursuant to Chapter 2 -- Corporate Governance Principles, Section One, Principle 1: the Company Shall be Headed by an Effective, Qualified and Expert Board -- in the Corporate Governance Code 2022, the Chairman of the Board’s responsibilities include but not limited to:

  • Representing Alba before others;
  • Ensuring that the directors have access to complete and accurate info in a timely manner;
  • Ensuring that the Board discussed all information as stated in the agendas for each meeting;
  • Encouraging effective communication between Alba’s shareholders and BoD;
  • Encouraging all directors to effectively exercise their roles in the best interest of Alba;
  • Preparing agendas for the Board meetings and General Assembly meetings (AGM and EGM); and
  • Holding meetings with non-executive and independent directors without the attendance of the executives to take their views on matters related to the company’s activity.

Pursuant to Chapter 2 -- Corporate Governance Principles, Section One, Principle 1: the Company Shall be Headed by an Effective, Qualified and Expert Board -- in the Corporate Governance Code 2022 and in addition to Alba’s Memorandum and Articles of Association of the Company (the “Articles”), the Board’s duties include but not limited to:

  • Setting and monitoring the overall business strategy and business plan for the Company;
  • Ensuring that the operations run smoothly to achieve the company’s objectives and that they do not conflict with the applicable Laws and Regulations;
  • Reviewing and approving financial statements which accurately disclose the Company’s financial position;
  • Monitoring management performance;
  • Convening and preparing the agenda for shareholders’ meetings;
  • Monitoring conflicts of interest and preventing abusive related-party transactions;
  • Assuring equitable treatment of shareholders including minority shareholders;
  • Exercising all powers and performing necessary acts for the management of the Company in conformity with its objectives, within the bounds of the Law, the Articles of Association, and resolutions of the General Meetings;
  • Setting and reviewing key Company policies;
  • Determining the remuneration for Directors, subject to the approval of the shareholders’ Annual General Meeting, taking into consideration the provision of Article 188 of the Commercial Companies’ Law;
  • Setting the Management structure; appointing or removing key/senior executives and employees, determining their duties, setting their remuneration and incentive programmes, (ensuring that these are aligned with the long-terms interests of the Company and shareholders), and overseeing succession planning;
  • Forming Executive and ESG, Audit and other Committees, appointing their members and specifying their powers, as well as ensuring a formal board nomination and election process;
  • Ensuring the integrity of the Company’s accounting and financial reporting systems, and that appropriate systems of control are in place, particularly for risk management, financial and operational control as well as compliance with the law and relevant standards; and
  • Approving matters reserved to the Board in the ‘Levels of Authority’ document reviewed by the Board from time to time.

The Levels of Authority (LoA) summarizes areas relating to strategies, long-term commitments, and policies where approval of the Board is necessary. These include:
  • Investment and expansion projects above monetary thresholds in accordance with capital expenditure policy approved by the Board and as set out in the LoA;
  • Sales and purchase contracts (materials and services) greater than 5-years and, in some instances, above certain monetary thresholds and contract quantities;
  • Equity and dividend related recommendations for Shareholders’ approval;
  • Recommendation of acquisitions, mergers, diversification, divestment, expansions, and other business combination related decisions for Shareholders’ approval;
  • Strategic hedging strategies;
  • Cumulative short-term borrowing limits;
  • Annual Operating Plan and Annual Marketing Plan; and
  • Key policies such as the Levels of Authority (LoA), Code of Conduct, Tender Policy, Risk Management Policy, Capital Expenditure Policy, Board and Committee Charters, and key HR Policies.

Alba empowers its Board members to uphold the highest standards of ethical conduct by emphasizing the absolute need for prompt disclosure of any conflicts of interest, whether stemming from the Board and Committees’ agenda items or external appointments, that could impair their judgment. Prior to every Board and Committee meeting, the members are notified of their obligation to disclose any potential conflicts of interest.

In 2024, the Board members set a strong example by actively declaring conflicts and abstaining from voting in relevant matters

Alba undertakes transactions with related parties as part of its ordinary course of business. As per the definitions by the International Accounting Standards 24 Related Party Disclosures (IAS 24), the Company qualifies as a government related entity. The Company purchases gas and receive services from various government and semi-government organisations and companies in the Kingdom of Bahrain. Other than the purchase of natural gas, other conducted transactions for the normal course of business are not considered to be individually significant in terms of size. Related party transactions of material nature are discussed by the Board and are as follows:

In addition, around 50% of the land housing Alba’s various facilities is licensed or leased to the Company by the Government of Bahrain or entities directly or indirectly owned/controlled by the Government of Bahrain. Further information can be found in Note 25 – Transactions with Related Parties in Alba’s Consolidated Financial Statements of 2024.

To note, all transactions with Related Parties and/or intra-company are done on arms’ length and audited by the Company’s External Auditors

In alignment with best corporate governance practices, Alba Board of Directors has established a robust committee structure to effectively oversee critical areas of the Company’s operations. These Committees, each with a clearly defined charter, enhance the Board’s ability to fulfill its fiduciary duties and make informed decisions. The following chart summarises the Company’s Board Committee Structure

The Board Audit Committee is responsible to review financial reporting, internal controls, and legal adherence in addition to recommending and overseeing the external audit process

The Board Audit Committee comprises four Directors all of whom are non-executive and half of them are independent. The Board Audit Committee (BAC) consists of: Shaikh Isa bin Khalid Al Khalifa (the Chairman of BAC who is independent), Mrs. Roselyne Renel (independent), Mrs. Hala Mufeez (non-independent), and Mr. Jihad Ali Hakamy who joined Alba’s BoD on 01 June (non-independent). To note, Mr. AlWalid AlSenani (former member of the BAC) retired from Alba’s BoD on 01 June.

As per the Charter of the Board Audit Committee (last version was approved on 14 February 2024), the Directors are required to meet at least 4 times a year and/or when necessary. In 2024, the Board Audit Committee met 5 times on 12 February, 13 May, 12 August, 17 September, and 11 November. Four regular BAC meetings were held in person in Q1, Q2, Q3 and Q4 of 2024 while one BAC meeting for endorsing Q2 and H1 2024 Financials was held virtually via Microsoft Teams on 12 August.

Auditor’s Profile & Overview of its Professional Performance Ernst & Young has been appointed as External Auditors for 2024 further to Alba shareholders’ approval during the Annual General Meeting which was held on 07 March 2024 [as per Section 10 – Principle, 10 First E of the Code: an external auditor shall be appointed for a term of one financial year, to be renewed for similar periods not exceeding five (5) consecutive financial years]. EY has been in Bahrain since 1928, making it the oldest and most prominent professional service firm operating in Bahrain for more than 90 years. With around 350 employees and 12 partners in Bahrain, Ernst & Young aligned its service offerings to better understand market needs and service client requirements.

The responsibilities of the Nomination, Remuneration and Corporate Governance Committee revolve around three core areas:

  • Board Nominations/Appointments: Ensuring independence, qualifications, and diversity of board members in compliance with regulations.
  • Compensation: Establishing and overseeing fair and responsible compensation packages for C-suite levels in addition to directors’ remuneration.
  • Corporate Governance: Monitoring compliance with legal and ethical standards.

The Nomination, Remuneration and Corporate Governance Committee comprises three Directors - all of whom are non-independent and non-executive Directors. The NRCGC consists of Mr. Khalid Al Rumaihi (who chairs this Committee) and two other Directors Mr. Omar Syed and Mr. Ahmed Al Duriaan.

As per the Charter of the Nomination, Remuneration & Corporate Governance Committee (last version was approved on 10 June 2020), the Directors are required to meet at least 4 times a year and/or when necessary. In 2024, the Nomination, Remuneration & Corporate Governance Committee met 7 times on 16 January, 14 February, 17 April, 14 May, 27 August, 18 September, and 12 November. Four regular NRCGC meetings were held in person in Q1, Q2, Q3 and Q4 of 2024 except for the ad-hoc NRCGC meetings which were held virtually via Microsoft Teams on 16 January, 17 April and 27 August.

The Board Executive and ESG Committee acts as the Board’s strategic compass, guiding long-term and mid-term planning, vetting projects, and optimizing resources. It also ensures efficient execution with strong governance and ESG principles while aligning with the Kingdom of Bahrain’s Net Zero Emissions by 2060.

The Board Executive and ESG Committee comprises four Directors - half of whom are independent, and all are non-executive Directors. The Board Executive and ESG Committee consists of Mr. Khalid Al Rumaihi (who chairs this Committee and is non-independent) and three other Directors Mr. Omar Al Amoudi (non-independent), Mr. Tim Murray (independent) and Mr. Bruce Cox (independent).

As per the Charter of the Board Executive and ESG Committee (last version was approved on 28 September 2022), the Directors are required to meet at least 4 times a year and/or when necessary. In 2024, the Board Executive Committee met 4 times on 13 February, 13 May, 17 September and 11 November. The Executive and ESG Committee meetings in Q1, Q2, Q3 and Q4 of 2024 were held in person.

Effective September 1, 2018, Ms. Eline Hilal assumed the role of Corporate Governance Officer for Aluminium Bahrain B.S.C. (Alba). Below are the contact details:
Office No.: +973 1783 5100
Mobile No.: +973 39907255
Email address: eline.hilal@alba.com.bh

Alba Enterprise risk management enables the Board and the Management to effectively deal with uncertainty across the organisation. It enhances value by maximizing opportunities, and minimizing the consequences and likelihood of threats, ensuring that risks are kept within an acceptable level across the entity. Risk management is a central part of Alba’s governance process and management system. The process starts in the decentralized teams within each of the Executive Management areas who is extensively knowledgeable of the risks within their areas of responsibility. They systematically identify, quantify, respond to and monitor risks at process and departmental level. With this decentralization, teams are placed to mitigate Alba’s risk exposure in the first instance. Based on understanding the business and its objectives, the risks are categorized into four areas: (1) Strategic (2) Operations (3) Compliance (4) Financial.

Different risk treatment options are utilized by the risk owners to ensure that risks are managed within the business context, business objectives, performance targets, and the Company’s risk appetite.

Our risk management processes are continuously updated and adapted to match internal and external requirements. While, the Board of Directors has the overall responsibility to ensure that Alba has implemented necessary procedures for risk management, the oversight of compliance within the established Enterprise Risk Management Framework is delegated to the Board Audit Committee.

Our corporate risk profile provides a consolidated picture of our risk exposure by detailing each risk, risk category and type, as well as level of inherent and residual risks. Our reporting process defines six risk dashboards to include Operational, Financial (Liquidity/Credit/ Covenants), Market/Commodity, Cybersecurity, Compliance, and ESG. The risk descriptions provide details of the event, its status, threshold and an assessment of its likelihood and potential impact. Post discussion with the Executive Management, the Head of Risk consolidates the main risks in a two-dimensional risk ‘heat map’ which is reviewed by the Board Audit Committee on a quarterly basis and if any material updates occur on an ad hoc basis, it is then shared with the Board of Directors.

The following risks must be carefully considered as their occurrence could have a material/ adverse impact on Alba’s business operations, financial condition, and could ultimately result in a decline in the Alba’s share price. Our processes of governance, control and risk management identify and provide responses to key risks through rigorous internal controls. Any failure of these systems could lead to the occurrence, or re-occurrence, of any of the risks described below:

  • The cyclical nature of the Company has historically meant that there is significant Aluminium price and demand volatility as well as a relative overproduction/surplus in the industry. The Company has no control over several factors that would affect the price of Aluminium.
  • The Company operates in an industry that gives potential rise to health, safety, security and environmental risks: fire, equipment breakdown, attack on the physical or IT infrastructure, civil strike or unrest, or loss of gas, power or other utilities which may result in loss of operational capability or shutdowns for significant periods; hence, resulting in a significant adverse impact on the Company’s operations and financial condition.
  • The loss of either of the Company’s three largest customers, or its inability to recover the receivables’ dues from one of them, may have a material adverse effect on its financial condition and prospects.
  • The Company relies on third-party suppliers for certain raw materials, and any disruption in its supply chain or failure to renew these contracts at competitive prices may have an adverse impact on the Company’s financial condition, operations, and outlook.
  • The Company’s competitive position in the global aluminium industry is dependent on continued access to uninterrupted natural gas supply. Further increase in the price of natural gas, or interruption in its supply, could have a material adverse effect on the Company’s business, financial condition, operations, and outlook.
  • The Company’s business may be affected by shortages of skilled employees (including management), labour cost inflation and increased rates of attrition.
  • The Company depends on the provision of uninterrupted transportation of raw materials and finished products across significant distances. Interruption of these activities could have a material adverse impact on the Company especially as prices for shipping/transportation services (particularly for sea transport) have increased over more than a year.
  • The Company has interest rate hedging contracts in connection to its c.US$766.591 million Syndicated Commercial Loan that is exposed to periodic mark-to-market evaluation
  • The Company is exposed to foreign currency fluctuations which may affect its financial condition.
  • There is a high level of competition in the GCC aluminium market, and the Company may lose its market share in the GCC as its peers increase their production levels.
  • The Company does not insure against certain risks, and some of its insurance coverage may be insufficient to cover actual losses incurred.
  • Changes in laws or regulations, or a failure to comply with any laws or regulations, may adversely affect the Company’s business operations.

The Company’s Executive Management oversees the day-to-day operations and executes the strategic directives set forth by the Board.

ALI AL BAQALI Chief Executive Officer

Chief Executive Officer of Aluminium Bahrain B.S.C. (Alba)

Joined Alba in May 1998

EXPERIENCE
  • Appointed as CEO since August 2019, Al Baqali has been part of the Alba family for more than 2-decades and brings years of thought leadership and honed experience from within the Company. Al Baqali joined Alba as a Purchasing Officer in 1998 then moved further up the ranks to become Manager for Procurement (2010), Chief Financial Officer (2013), Deputy CEO and Chief Supply Chain Officer (2017) and Acting CEO (2019). In his Executive Management roles, Al Baqali has been instrumental in Alba’s landmark Line 6 Expansion Project, especially in securing the US$3 billion financing for the Project and formulating the sourcing strategies for key raw materials.
  • As a Bahraini who grew from within Alba, Al Baqali believes that Alba’s growth and success depend heavily on the Company’s entrenched principles on Safety, Development of Human Capital, Social and Civic Responsibility as well as Community Development. Al Baqali places Environmental, Social, and Governance (ESG) matters at the top of his priorities; his beliefs have translated into Alba establishing c.US$40 million one-of-its-kind Spent Pot Lining Treatment Plant Project, achieving the Aluminium Stewardship Initiative (ASI) Performance Certification, setting-up a Fish Farm at the Calciner & Marine Operations amongst many other initiatives.
International Memberships & Positions
  • Chairman of the International Aluminium Institute (IAI) (2024– Present).
  • Vice-Chairman & Director of the International Aluminum Institute (IAI) - (2019-2024).
  • Member of the Board, Gulf Aluminium Council (GAC) - (2019- Present)
  • Member of GCC Board Directors Institute (2021- Present).
  • Member of Italia Bahrain Business Council (2021- Present).
Bahrain Memberships & Positions
  • Member of the Board, Tenmou - 2014-2024.
  • Member of the Board, INJAZ – 2016- Present.
  • Deputy Chairman of the Board of Trustees, Bahrain Polytechnic – 2021 - Present.
  • Board member of Saint Christopher’s School - 2020-2021.
QUALIFICATION
  • Executive MBA from Darden School of Business, University of Virginia, USA - 2018
  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC - 2014.
  • B.Sc. in Accounting from the University of Bahrain - 2005.
  • Chartered Institute of Purchasing & Supply (CIPS), UK - 1998

  • Appointed as CEO since August 2019, Al Baqali has been part of the Alba family for more than 2-decades and brings years of thought leadership and honed experience from within the Company. Al Baqali joined Alba as a Purchasing Officer in 1998 then moved further up the ranks to become Manager for Procurement (2010), Chief Financial Officer (2013), Deputy CEO and Chief Supply Chain Officer (2017) and Acting CEO (2019). In his Executive Management roles, Al Baqali has been instrumental in Alba’s landmark Line 6 Expansion Project, especially in securing the US$3 billion financing for the Project and formulating the sourcing strategies for key raw materials.
  • As a Bahraini who grew from within Alba, Al Baqali believes that Alba’s growth and success depend heavily on the Company’s entrenched principles on Safety, Development of Human Capital, Social and Civic Responsibility as well as Community Development. Al Baqali places Environmental, Social, and Governance (ESG) matters at the top of his priorities; his beliefs have translated into Alba establishing c.US$40 million one-of-its-kind Spent Pot Lining Treatment Plant Project, achieving the Aluminium Stewardship Initiative (ASI) Performance Certification, setting-up a Fish Farm at the Calciner & Marine Operations amongst many other initiatives.
International Memberships & Positions
  • Chairman of the International Aluminium Institute (IAI) (2024– Present).
  • Vice-Chairman & Director of the International Aluminum Institute (IAI) - (2019-2024).
  • Member of the Board, Gulf Aluminium Council (GAC) - (2019- Present)
  • Member of GCC Board Directors Institute (2021- Present).
  • Member of Italia Bahrain Business Council (2021- Present).
Bahrain Memberships & Positions
  • Member of the Board, Tenmou - 2014-2024.
  • Member of the Board, INJAZ – 2016- Present.
  • Deputy Chairman of the Board of Trustees, Bahrain Polytechnic – 2021 - Present.
  • Board member of Saint Christopher’s School - 2020-2021.

  • Executive MBA from Darden School of Business, University of Virginia, USA - 2018
  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC - 2014.
  • B.Sc. in Accounting from the University of Bahrain - 2005.
  • Chartered Institute of Purchasing & Supply (CIPS), UK - 1998
DR. ABDULLA HABIB AHMED Chief Operations Officer

Chief Operations Officer of Aluminium Bahrain B.S.C. (Alba)

Joined Alba in March 1995

EXPERIENCE
  • Currently, the Chief Operations Officer since 02 December 2018.
  • Formerly, he was the Director of Reduction Line 6 Start-up (2017) in charge of commissioning and startup of Line 6, and he was Director of Reduction Lines and Services. (2015-2018).
  • Joined Alba as Trainee Engineer and during the last 27 years, Dr. Habib has held the roles of Superintendent Reduction Line, R&D Manager, Reduction Lines Manager, and Marketing Customers Technical Support Manager.
  • Played a vital role in improving safety performance across Alba Operations.
  • In-charge of Line 5-recovery in 2017, after a long power outage, and led it as one of the safest and faster recoveries in the world.
  • Member of many international committees related to Aluminium Industry like The Minerals, Metals & Material Society (TMS) and The International Committee for Study of Bauxite, Alumina and Aluminium (ICSOBA)
  • Previous advisor to the College of Engineering in University of Bahrain.
QUALIFICATION
  • PhD in Chemical Engineering & Masters in Aluminium Smelting from University of New South Wales, Australia.
  • B.Sc. in Chemical Engineering with first honor from University of Bahrain.
  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC - 2016.

  • Currently, the Chief Operations Officer since 02 December 2018
  • Formerly, he was the Director of Reduction Line 6 Start-up (2017) in charge of commissioning and startup of Line 6, and he was Director of Reduction Lines and Services. (2015-2018).
  • Joined Alba as Trainee Engineer and during the last 27 years, Dr. Habib has held the roles of Superintendent Reduction Line, R&D Manager, Reduction Lines Manager, and Marketing Customers Technical Support Manager.
  • Played a vital role in improving safety performance across Alba Operations.
  • In-charge of Line 5-recovery in 2017, after a long power outage, and led it as one of the safest and faster recoveries in the world.
  • Member of many international committees related to Aluminium Industry like The Minerals, Metals & Material Society (TMS) and The International Committee for Study of Bauxite, Alumina and Aluminium (ICSOBA)
  • Previous advisor to the College of Engineering in University of Bahrain.

  • PhD in Chemical Engineering & Masters in Aluminium Smelting from University of New South Wales, Australia.
  • B.Sc. in Chemical Engineering with first honor from University of Bahrain.
  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC - 2016.
AMIN SULTAN Chief Power Officer

Chief Power Officer of Aluminium Bahrain B.S.C. (Alba)

Joined Alba in May 1997

EXPERIENCE
  • Currently, he oversees Alba’s 3,665 MW ISO Power & Utilities and Power Station 5 new Block 4 680 MW (using J-class gas turbine technology) combined cycle construction project.
  • Oversaw the new 1,800 MW Power Station 5 (using H-class gas turbine technology), which was part of Alba’s Line 6 Expansion Project.
  • In charge of Environment, Social and Governance ESG at ALBA in addition to overseeing ALBA wide property and business interruption all risks insurance.
  • Played an instrumental role in Alba’s organisation restructuring process in 2010, implementation of Lean & Six Sigma tools during STAR project 2012-2011 and cost saving Project Titan.
  • Prior to Alba, he spent 5 years at the leading Japanese control and instrumentation firm, Yokogawa Middle East & Africa B.S.C.(c), wherein his role covered engineering, maintenance, and projects experiences in vast industries such power & utilities, refineries, and petrochemicals.
QUALIFICATION
  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC - 2014.
  • M.Sc. in Electrical Engineering from University of Bahrain.
  • Attended various Executive Management Programmes at University of Chicago Business School and University of Cranfield School of Management

  • Currently, he oversees Alba’s 3,665 MW ISO Power & Utilities and Power Station 5 new Block 4 680 MW (using J-class gas turbine technology) combined cycle construction project.
  • Oversaw the new 1,800 MW Power Station 5 (using H-class gas turbine technology), which was part of Alba’s Line 6 Expansion Project.
  • In charge of Environment, Social and Governance ESG at ALBA in addition to overseeing ALBA wide property and business interruption all risks insurance.
  • Played an instrumental role in Alba’s organisation restructuring process in 2010, implementation of Lean & Six Sigma tools during STAR project 2012-2011 and cost saving Project Titan.
  • Prior to Alba, he spent 5 years at the leading Japanese control and instrumentation firm, Yokogawa Middle East & Africa B.S.C.(c), wherein his role covered engineering, maintenance, and projects experiences in vast industries such power & utilities, refineries, and petrochemicals.

  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC - 2014.
  • M.Sc. in Electrical Engineering from University of Bahrain.
  • Attended various Executive Management Programmes at University of Chicago Business School and University of Cranfield School of Management
WALEED TAMIMI Chief Supply Officer

Chief Supply Officer of Aluminium Bahrain B.S.C. (Alba)

Joined Alba in May 2011

EXPERIENCE
  • In his current position as a Chief Supply Officer, Waleed oversees Procurement & Warehousing, Strategic Supply & Planning, Engineering and Operational Excellence departments.
  • He held the position of Chief Administration & Supply Officer since August 2019, prior to which he was the Chief Administration Officer and before that, the Director of Administration.
  • He has held the position of Senior Manager of Strategic Supply & Planning, in charge of Alba’s procurement requirement of major raw material and corresponding logistics, responsible for the management and development of Alba’s raw material and freight suppliers’ network in addition to managing all trading and selling initiatives for excess procured Alumina and surplus production of Calcined Petroleum Coke.
  • In 2013, Waleed served as Manager - Operational Excellence where he led the operational excellence initiatives alongside the continuous improvement strategy and roadmap. In this role, he was responsible for the development, establishment and initiation of an Enterprise Continuous Improvement and Cost Cutting Programme (Project Titan), which aimed at improving quality, reducing lead time, and bringing in sizable cost reduction levels.
  • Prior to his tenure in Alba, he was General Manager of Business Improvement Group at Rezayat Group of Companies in Khobar, Saudi Arabia where he led a strategy building initiative at Rezayat Group, resulting ultimately in the establishment and direct utilization of Balance Score Cards. He also led the development, establishment and initiation of an Enterprise Excellence Programme.
  • Waleed has served for 28 years in different capacities for a number of companies in USA and in the Middle East ranging from an Implementation Consultant in a software start-up company in San Jose, California to a Six Sigma Black Belt in a world-class Aircraft Manufacturer (Lear-Jet, Bombardier)
QUALIFICATION
  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC- 2016.
  • BS and MS degrees in Industrial Engineering from Wichita State University, US – 1996 & 1998.
  • Certified Six Sigma Master Black Belt and Lean Manufacturing Sensei.

  • In his current position as a Chief Supply Officer, Waleed oversees Procurement & Warehousing, Strategic Supply & Planning, Engineering and Operational Excellence departments.
  • He held the position of Chief Administration & Supply Officer since August 2019, prior to which he was the Chief Administration Officer and before that, the Director of Administration.
  • He has held the position of Senior Manager of Strategic Supply & Planning, in charge of Alba’s procurement requirement of major raw material and corresponding logistics, responsible for the management and development of Alba’s raw material and freight suppliers’ network in addition to managing all trading and selling initiatives for excess procured Alumina and surplus production of Calcined Petroleum Coke.
  • In 2013, Waleed served as Manager - Operational Excellence where he led the operational excellence initiatives alongside the continuous improvement strategy and roadmap. In this role, he was responsible for the development, establishment and initiation of an Enterprise Continuous Improvement and Cost Cutting Programme (Project Titan), which aimed at improving quality, reducing lead time, and bringing in sizable cost reduction levels.
  • Prior to his tenure in Alba, he was General Manager of Business Improvement Group at Rezayat Group of Companies in Khobar, Saudi Arabia where he led a strategy building initiative at Rezayat Group, resulting ultimately in the establishment and direct utilization of Balance Score Cards. He also led the development, establishment and initiation of an Enterprise Excellence Programme.
  • Waleed has served for 28 years in different capacities for a number of companies in USA and in the Middle East ranging from an Implementation Consultant in a software start-up company in San Jose, California to a Six Sigma Black Belt in a world-class Aircraft Manufacturer (Lear-Jet, Bombardier)

  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC- 2016.
  • BS and MS degrees in Industrial Engineering from Wichita State University, US – 1996 & 1998.
  • Certified Six Sigma Master Black Belt and Lean Manufacturing Sensei.
HISHAM AL KOOHEJI Chief Marketing Officer

Chief Marketing Officer of Aluminium Bahrain B.S.C. (Alba)

Joined Alba in April 2011

EXPERIENCE
  • Appointed as Chief Marketing Officer in September 2024, Al Kooheji oversees Alba’s Global sales team, Casthouse Operations and Maintenance departments.
  • Currently, he serves as the Chairman of Alba Americas, Alba’s subsidiary in USA.
  • Prior to his current role, Al Kooheji served as the Director of Marketing & Logistics from 2020 where he led the establishment of Alba’s branch office in Singapore and spearheaded entry into new markets such as Japan, and Tunisia. He also played a key role in driving Alba’s efforts to increase Value Added Products (VAP) sales by focusing on the can-body sheet sector.
  • Previously, Al Kooheji held the position of Manager Sales, GCC & MEA from 2018 and Manager Customer Service & Marketing Operations from 2017 overseeing all sales backoffice functions, including billing & documentation, land and ocean logistics, production planning, pricing, compliance as well as market research.
  • Joined Alba in 2011 as an Operational Excellence Specialist leading process improvement projects across the plant.
QUALIFICATION
  • MBA from The College of William & Mary, Virginia, USA, 2016.
  • MSc International Business & Finance, University of Reading, United Kingdom, 2009.
  • BA Economic, University of Reading, United Kingdom, 2008.

  • Appointed as Chief Marketing Officer in September 2024, Al Kooheji oversees Alba’s Global sales team, Casthouse Operations and Maintenance departments.
  • Currently, he serves as the Chairman of Alba Americas, Alba’s subsidiary in USA.
  • Prior to his current role, Al Kooheji served as the Director of Marketing & Logistics from 2020 where he led the establishment of Alba’s branch office in Singapore and spearheaded entry into new markets such as Japan, and Tunisia. He also played a key role in driving Alba’s efforts to increase Value Added Products (VAP) sales by focusing on the can-body sheet sector.
  • Previously, Al Kooheji held the position of Manager Sales, GCC & MEA from 2018 and Manager Customer Service & Marketing Operations from 2017 overseeing all sales backoffice functions, including billing & documentation, land and ocean logistics, production planning, pricing, compliance as well as market research.
  • Joined Alba in 2011 as an Operational Excellence Specialist leading process improvement projects across the plant.

  • MBA from The College of William & Mary, Virginia, USA, 2016.
  • MSc International Business & Finance, University of Reading, United Kingdom, 2009.
  • BA Economic, University of Reading, United Kingdom, 2008.
RICARDO SANTANA Chief Financial Officer

Chief Financial Officer of Aluminium Bahrain B.S.C. (Alba)

Joined Alba in August 2024

EXPERIENCE
  • In his current position, as a Chief Financial Officer, Ricardo oversees Alba’s Financial, Information Technology and Legal Departments (15.08.2024 to present)
  • Prior to his tenure in Alba, he was CFO, Secretary of the Board of Directors and Head of Supply Chain and IT at Sohar Aluminium (Jan 2023 to 31.07.2024)
  • Overall 25+ years of working experience across Commodities (Aluminium, Iron Ore, and Oil), Consumer Products (Ophthalmic lenses), Consulting Services and Telecom Industries. Former Member of Dutch and Brazilian Companies’ Boards, as well as Joint Ventures’ Financial, Audit, Operating and Projects Steering Committees.
QUALIFICATION
  • MBA Finance and Controlling from Universidade Federal Fluminense, 2003-2004.
  • B.Sc. in Economics from Universidade do Estado do Rio de Janeiro in 1990-1995.
  • Scholar at Kellogg School of Management in 2015 and 2017.
  • Certified Investor Relations Officer (CIRO) by the UK Investor Relations Society, 2015.
  • Trained as Non-Executive Director/Board Member in the Portuguese and the Brazilian Corporate Governance Institutes, 2015 & 2022.

  • In his current position, as a Chief Financial Officer, Ricardo oversees Alba’s Financial, Information Technology and Legal Departments (15.08.2024 to present)
  • Prior to his tenure in Alba, he was CFO, Secretary of the Board of Directors and Head of Supply Chain and IT at Sohar Aluminium (Jan 2023 to 31.07.2024)
  • Overall 25+ years of working experience across Commodities (Aluminium, Iron Ore, and Oil), Consumer Products (Ophthalmic lenses), Consulting Services and Telecom Industries. Former Member of Dutch and Brazilian Companies’ Boards, as well as Joint Ventures’ Financial, Audit, Operating and Projects Steering Committees.

  • MBA Finance and Controlling from Universidade Federal Fluminense, 2003-2004.
  • B.Sc. in Economics from Universidade do Estado do Rio de Janeiro in 1990-1995.
  • Scholar at Kellogg School of Management in 2015 and 2017.
  • Certified Investor Relations Officer (CIRO) by the UK Investor Relations Society, 2015.
  • Trained as Non-Executive Director/Board Member in the Portuguese and the Brazilian Corporate Governance Institutes, 2015 & 2022.
FAHAD DANISH Chief Human Resource Officer

Chief Human Resource Officer of Aluminium Bahrain B.S.C. (Alba)

Joined Alba in October 2024

EXPERIENCE
  • In his role, Fahad spearheads Alba’s Human Resources strategy, overseeing all aspects of talent management, including workforce planning, recruitment, succession planning, compensation and benefits.
  • With 18 years of experience in the GCC, Fahad has worked in various disciplines including Strategic and Operational Human Resources, Management Consulting; focusing on Human Resources, Change Management, Strategy, and Process Reengineering, as well as Administration. Fahad brings a wealth of knowledge and a proven track record of success. Prior to joining Alba, he held senior leadership positions at prominent Bahraini companies including Beyon (Bahrain Telecommunications Company), Bahrain International Circuit, KPMG – Bahrain & Qatar, and Ernst & Young – Europe, Middle East, India and Africa (EMEIA)
QUALIFICATION
  • Master of Business Administration (MBA) from the University of Strathclyde
  • Bachelor of Science (BSc) in Business Administration from the New York Institute of Technology
  • Completed Executive education courses at the University of Strathclyde and Harvard Business School

  • In his role, Fahad spearheads Alba’s Human Resources strategy, overseeing all aspects of talent management, including workforce planning, recruitment, succession planning, compensation and benefits.
  • With 18 years of experience in the GCC, Fahad has worked in various disciplines including Strategic and Operational Human Resources, Management Consulting; focusing on Human Resources, Change Management, Strategy, and Process Reengineering, as well as Administration. Fahad brings a wealth of knowledge and a proven track record of success. Prior to joining Alba, he held senior leadership positions at prominent Bahraini companies including Beyon (Bahrain Telecommunications Company), Bahrain International Circuit, KPMG – Bahrain & Qatar, and Ernst & Young – Europe, Middle East, India and Africa (EMEIA)

  • Master of Business Administration (MBA) from the University of Strathclyde
  • Bachelor of Science (BSc) in Business Administration from the New York Institute of Technology
  • Completed Executive education courses at the University of Strathclyde and Harvard Business School
ELINE HELAL Corporate Governance Officer

Director - Investor Relations, Insurance & Corporate Secretary

Joined Alba in March 2011

EXPERIENCE
  • Currently, she is the Director of Investor Relations, Insurance and Corporate Secretary since February 2020.
  • Brings with her years of honed experience across matrixed functions namely Investor Relations, Corporate Communications, Corporate Secretariat, Corporate Governance, Insurance as well as Strategy & Business Development.
  • Joined Alba as Manager Investor Relations (IR) in March 2011 to build the IR function from the ground, develop & lead the IR team. In her 10+ years career in Alba, she also held on top of her IR role, Public Relations for 5 years and was acting as Strategy and Business Development Manager since July 2018.
  • Has a well-versed experience in corporate governance, compliance, and regulatory skills for working in Debt and Equity markets, especially on Emerging Markets and in particular the Middle East.
  • Renowned as a media relator as well as financial communication advisor for C-levels in the region.
  • Started as a financial analyst at the Middle East mobile operator Zain Group in early 2007, then joined Investor Relations as senior IR analyst till January 2011.
QUALIFICATION
  • Completed Senior Executive Leadership Programme (SELP12) from Harvard Executive Business School - 2023.
  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC - 2015.
  • MSc in International Finance from University of New South Wales, Australia - 2006.
  • Bachelor of Science in Banking & Finance from Lebanese American University (LAU) - 2003.

  • Currently, she is the Director of Investor Relations, Insurance and Corporate Secretary since February 2020.
  • Brings with her years of honed experience across matrixed functions namely Investor Relations, Corporate Communications, Corporate Secretariat, Corporate Governance, Insurance as well as Strategy & Business Development.
  • Joined Alba as Manager Investor Relations (IR) in March 2011 to build the IR function from the ground, develop & lead the IR team. In her 10+ years career in Alba, she also held on top of her IR role, Public Relations for 5 years and was acting as Strategy and Business Development Manager since July 2018.
  • Has a well-versed experience in corporate governance, compliance, and regulatory skills for working in Debt and Equity markets, especially on Emerging Markets and in particular the Middle East.
  • Renowned as a media relator as well as financial communication advisor for C-levels in the region.
  • Started as a financial analyst at the Middle East mobile operator Zain Group in early 2007, then joined Investor Relations as senior IR analyst till January 2011.

  • Completed Senior Executive Leadership Programme (SELP12) from Harvard Executive Business School - 2023.
  • MBA from Arabian Gulf University (AGU) in collaboration with ESSEC - 2015.
  • MSc in International Finance from University of New South Wales, Australia - 2006.
  • Bachelor of Science in Banking & Finance from Lebanese American University (LAU) - 2003.

The Company’s well-defined performance system -- guided by the Nomination, Remuneration & Corporate Governance Committee (NRCGC) -- fosters transparency in performance evaluation as well as rewarding employees and key Executives. The top seven key Executives’ compensation -- including salaries, benefits, and allowances -- amounted to BD1,992,619 (full breakdown is tabled below):

The Company recognises that the current composition of the Board, Audit Committee and its Nomination, Remuneration, and Corporate Governance Committee (NRCGC) may not fully comply with the director independence requirements set forth in the Central Bank of Bahrain (CBB) High-Level Controls Module (HC-1.4.5) and the Ministry of Industry and Commerce (MOIC) Corporate Governance Code. The Company has promptly notified its major shareholders of this non-compliance and is actively engaged in discussions with them to seek appropriate remedial measures.

In the interim, the Company has secured a temporary waiver from CBB with respect to the independence requirements. This waiver is subject to ongoing review as the Company undertakes to diligently pursue mitigation strategies including potential Board and NRCGC composition changes to achieve full compliance with CBB regulations and MOIC Code by the new Board term in 2026.

The Board believes the specific circumstances surrounding the Directors’ classification as non-independent do not pose actual conflicts of interest or hinder their ability to exercise independent judgment.

Community-driven impact: the Company spent c.BD2.375 million to touch diverse aspects of local and community life, driving positive change through educational programmes, fostering healthy living through sports, conservation of local heritage, and impactful ESG-led activities in line with the Company’s ESG Roadmap.

  • Guided by the principles of good corporate governance, Alba Board of Directors reviewed on 13 February the Company’s House of Strategy with key focus areas on growth initiatives, energy transition, financial sustainability, risk management, and ESG. In addition, the Board of Directors approved the following new Vision, Mission and Values for Alba
    • Vision: To drive the aluminium industry forward through human talent and innovation from Bahrain to the world.
    • Mission: Drive long-term sustainable value for all stakeholders by capitalising on the strength of our product portfolio, anchored in our enduring dedication to safety and efficiency
    • Values: Safe & Green, Team, Ethics, Excellence and Resilience.
  • To ensure effective oversight of the contemplated combination of Alba with segments of Maaden’s Aluminium Strategic Business Unit, Alba Board of Directors established a dedicated Steering Committee on 14 May. The Steering Committee is tasked with guiding the project’s execution, overseeing due diligence activities and ensuring alignment with the Company’s strategic objectives
  • Alba announced on 16 September a Non-Binding Agreement to Explore Potential Business Combination with Segments of Maaden’s Aluminium Strategic Business Unit.
  • Alba was notified on 17 September by its shareholder, SABIC Industrial Investment Company (SIIC) (a wholly owned subsidiary of SABIC) of an agreement for the sale of its 20.62% shareholding in Aluminium Bahrain B.S.C. to Saudi Arabian Mining Company (Ma’aden). [SABIC Industrial Investment Company (SIIC) has a substantial shareholding of more than 10% in Alba’s issued and paid-up capital and as such, this transaction is subject to CBB’s approvals]
  • Succession planning is a critical component of the Board’s strategic oversight. A dedicated workshop was held on 18 September to review and refine the Company’s succession planning process as well as ensure its long-term sustainability.

Alba engages with its shareholders and investors on a regular basis and as required as follows:

  • Alba was converted into a Bahrain Public Joint Stock Company on 23 November 2010.
  • Alba shares are listed on two exchanges: Ordinary Shares on Bahrain Bourse and Global Depository Receipts (GDRs) on the London Stock Exchange – Alternative Investment Market.
  • Alba Ticker [Bahrain Bourse: ALBH, BD1.300 on 31 December 2024].The below detailed tables outlines shareholders’ equity and distribution, offering insights in the Company’s ownership in terms of local, Arab and Foreign, in addition, to distribution by size of ownership: