We are a leading professionally managed company based in Kuwait offering a bouquet of services that cover diverse business interests in public transport, warehousing, dealership, and travel related services.
As the largest public transport operator in Kuwait, City Group plays an important role in integrating the economic development strategies, urban development and housing policies, education and employment strategies. We believe that outcomes depend on choices not destiny and City Group with its modern fleet of buses and its continuous investment in superior technology coupled with its reliable workforce is in a unique position to deliver a robust passenger transport network capability in Kuwait.
Public transport is central to local communities and their aspirations for economic growth and social inclusion. Whilst the social advantages of public transport are well known, the economic benefits, particularly that an efficient mobility creates economic opportunities, enables trade, facilitates access to markets and services and makes efficient use of scarce resources must also be recognized.
The key differentiator in our business is reliability! City Group has designed its business model to provide a cost-effective, seamless and reliable first- and last-mile connectivity transportation solution to the communities it serves.
Corporate Governance Guidelines provide a framework of authority and accountability to enable the Board of Directors and management to make timely and effective decisions that promote shareholder value while complying with applicable law and the Company’s commitment to ethical conduct, integrity and transparency.
The Board and management are committed to implementing these Guidelines and to making good governance integral to the culture of the Company.
The Board’s primary responsibility is to supervise the management of City Group to foster the long-term success of the Company consistent with the Board’s responsibility to maximize shareholder value. The Board may delegate its responsibilities under these Guidelines to appropriate committees of the Board. Management is responsible for the development of an overall corporate strategy to be presented annually to the Board.
The Board participates in the strategic planning process and reviews in depth and approves the strategy, including the human, technological and capital resources on its implementation. The Board then monitors management’s execution of the strategy and its achievement of objectives.
To elaborate on the role of the Board beyond the scope of these Guidelines, the Board shall issue a Charter for the Board. The Board then monitors management’s execution of the strategy and its achievement of objectives. The Board approves the goals, strategies and objectives within which the Company is managed and oversees senior managements’ performance and compensation The Board may delegate its responsibilities under these Guidelines to appropriate committees of the Board.Any responsibility not delegated to a committee of the Board or to management remains with the Board. The Board participates in the strategic planning process and reviews in depth and approves the strategy, including the human, technological and capital resources on its implementation.
The Chair’s primary responsibility is to oversee the efficient operation of the Board and its committees and to set the tone at the top for the Board and its members to foster ethical and responsible decision-making. The Chair of the Board shall be appointed annually by the Board from among those directors under any laws and regulations applicable to the Company and under any governance guidelines or listing standards of any stock or securities exchange upon which the securities of the Company are from time to time listed.
Each director is responsible for providing constructive counsel to and oversight of management, consistent with a director’s statutory and fiduciary obligations to the Company. Each director shall advance the interests of the Company and the effectiveness of the Board by bringing his or her knowledge and experience to bear on the strategic and operational issues facing the Company. Each director shall enhance his or her familiarity with the Company and its business, people and competitive environment by preparing for and participating in meetings of the Board and its committees. Each director shall comply with the Company’s Code of Business and Workplace Ethics Each director shall attend all meetings of the Board and meetings of committees of the Board of which each director is a member in person or otherwise that permits all persons participating in the meeting to communicate with each other.
The City Group Co. Board comprises 5 Non-Executive Members plus an Independent Board Member and the positions of the Chairman of the Board and the Chief Executive Officer of the Company are held by separate individuals. While the Board oversees the management of the business, the President and Chief Executive Officer is responsible for the executive leadership and operational management of the Company.
The Board meets at regular intervals to discuss and decide on Company/business policy and strategy apart from other Board business. The Board/Committee Meetings are circulated to the Directors well in advance to facilitate them to plan their schedule and to ensure meaningful participation in the meetings.
Meetings are governed by a structured agenda. The Board members, in consultation with the Chairman, may bring up any matter for the consideration of the Board. All major agenda items are backed by comprehensive background information to enable the Board to take informed decisions. All Agenda papers are circulated prior to the Board meeting.
The Board has plenary power. Any responsibility not specifically delegated to a committee of the Board or to management remains with the Board. The Board may delegate its responsibilities under these Guidelines to appropriate committees of the Board. All other matters required to be placed before the Board for its review/ information/ approval under the statutes.
While the Board oversees the management of the business, Chief Executive Officer is responsible for the executive leadership and operational management of the Company. The Chief Executive Officer’s primary responsibility is to lead the Company. The Chief Executive Officer and his management team formulate the Company’s proposed goals, strategies and objectives, and presents them to the Board for approval. The Chief Executive Officer keeps the Board informed of the Company’s progress towards its goals and of all material deviations from the goals, strategies and objectives approved by the Board.
The Chief Financial Officer of the company also acts as the company secretary and is responsible for the collation, review and distribution of all the papers submitted to the board for its consideration. The company secretary is also responsible for the preparation of the agenda and convening of board meetings. The company secretary attends all the meetings of the board and its committees (except Nomination and Remuneration Committee), advises the board on compliance and governance principles and ensures appropriate recording of minutes of the meetings.
Currently, there are three board committees, the terms of reference of which are determined by the board from time to time. Meetings of each board committee are convened by the board secretary upon receiving a request from the respective committee chairman. Matters requiring the board’s attention are placed before the board by the respective committee chairman. The composition of these committees, including the number of meetings held during the financial year and the related attendance, are provided below.
Nomination and Remuneration Committee
Corporate Governance Committee
Audit & Risk Management Committee
Currently, there are five Management Committees, the terms of reference of which are determined by the Corporate Governance Manual. Meetings of each Committee are convened by the respective Committee Chairman. Management Committees are:
Internal Executive Committee
Revenue Task Force and Route Management Committee
Supply Chain Management Committee
Human Resource Committee
The Corporate Governance Committee has institutionalized several policies to act as a guide to the Board Members, Executive Management and employees in course of 2014. We give below a brief outline of the policies that were introduced in City Group in course of the year. It might be pertinent to add that these policies were always in existence in the company but have now been presented in a structured manner in the Corporate Governance Manual.
The policy lays down that Board members and employees shall ensure that there is no conflict or incompatibility between their personal interests, whether pecuniary or non-pecuniary and the discharge of their duties. This conflict may extend to any business undertaking in which the Board members, employees and their immediate family is acting in direct competition with the Company activities or interests for personal gain.
The purpose of this policy is to provide the Executive Management of City Group Co. with a systematic approach to differentiate related parties, for approved types of related party transactions, and for proper documentation of such transactions. All transactions involving Company and a related party shall be identified and undergo an exceptional review, approval and disclosure process as per the Delegation of Authority Matrix.
This Policy is a formal representation of the Company’s commitment to the highest standards of professional integrity, ethical behavior, transparency and fair dealing in the conduct of its business. It aims to provide a method of properly addressing bonafide concerns that Whistle Blowers might have, whilst offering them the necessary protection from victimization, harassment and/or disciplinary proceedings.
This policy commits the Company to conducting its business ethically, legally and in a manner that is fiscally, environmentally and socially responsible, while delivering sustainable value and strong financial performance. The Company is committed to maintaining the highest standards of honesty, integrity and fairness in all aspects of its business and expects the same in its relationships with all those with whom it does business.
The company believes its reputation is critical to the creation of long-term value for its shareholders and has accordingly developed this policy to timely and accurately disclose all matters relating to its establishment, financial position, performance and ownership structure. The Board has set in place a system of disclosure and transparency which defines the aspects, fields and characteristics of disclosure in relation to the items that need to be disclosed
The purpose of the policy is to provide the company with guiding principles to manage the way in which the Company interacts with key stakeholders and introduce a single strategic driver of the stakeholder engagement process across the business. The Company shall uphold the values of honesty, partnership and fairness in its dealings with stakeholders and shall foster a constructive relationship with them and make every attempt to understand and meet their expectations.
The Company has adopted guidelines against trading on the basis of inside information as described in this memorandum, which prohibit trading based on material, non-public information regarding the company. The guidelines cover officers, directors, all other full-time and part-time employees and consultants of CGC, as well as family members of such persons, and others, in each case where such persons have or may have access to Inside Information.
Our company has an integrated approach to managing the risks inherent in various aspects of its business. As a part of this approach, the Audit and Risk Management Committee under the overall supervision of the Board is responsible for monitoring risk levels according to various parameters and the Management is responsible for ensuring implementation of mitigation measures, if required.
The Board has drawn up a delegation of authority matrix to allow certain decision making authority to various levels of persons within both the Management and Board Committees. These pre-approved limits are linked to the value of transactions and are subject to internal verifications to ensure that the limits to the authority are not exceeded.
At the heart of every public transport operation is reliability and it is this defining attribute that has set Citybus apart from the other operators in Kuwait. With 35 bus routes within Kuwait and counting, we at Citybus are committed to providing the optimal ridership experience by providing a safe, reliable and efficient network to the community we serve.
Cityvan is the pioneer in the sphere of on demand and micro transit in Kuwait catering to that section of society that seeks personalized travel solutions. It has created a new mobility ecosystem that caters to on demand first and last mile connectivity as well as a ride sharing platform through the introduction of an App that serves as an accelerator to the urban growth engine.
Sulaibiya Industrial Area, Block No. 2, Building No. 800100, Kuwait
Relationship is the key to any service industry and the management and staff of the logistics and warehousing facility go out of their way to act as a partner in progress with its customer. It is no wonder then that the vast majority of the customers has been with us since inception.
The leading providers of travel related services in Kuwait that have reinvented itself into both an online and offline powerhouse with the introduction of www.otolat.com and Souk Safar even as the fortunes of the traditional travel shops declined.
Sulaiman Center, Al Shuhada Street, Kuwait City, State of Kuwait
(965) 1 887 887
Yutong buses have sold about 900 units in Kuwait, 675 within the past two years and KCBC is the authorized distributor of this Chinese brand.
We are always keen to meet energetic and talented people who would like to join our team. If you wish to be considered for any future positions,