The management and Board of Directors of Macro Group believe that operating the company in a reliable, efficient, transparent and ethical manner enhances our ability to foster sustainable growth and create value for our stockholders. To ensure that our stakeholders’ interests are effectively protected, we have developed a strong corporate governance framework that prioritizes the values of accountability, transparency and integrity. The Board, together with its audit committee, is committed to adhering to the highest standards of responsible conduct in all areas of the business.
Our Board of Directors
The role of the Board is to develop and cultivate the value, ethics and culture of Macro Group, set the Company’s strategic goals, and ensure that the necessary resources and controls are in place to effectively meet its set goals while managing its risks. The Board monitors the performance of the business and management against its strategic objectives with the ultimate objective of creating and delivering shareholder value.
| Name | Position | Year Appointed |
|---|---|---|
| Dr. Ahmed El Nayeb | Non-Executive Chairman representing Leo 1 | 2021 |
| Dr. Hisham Wasfy | Executive Managing Director representing Leo 1 | 2021 |
| Mr. Ahmed Rady | Non-Executive Vice-Chairman representing Leo 1 | 2021 |
| Mr. Tamir Saeed | Non-Executive Board Member representing Leo 1 & Kingsway Capital | 2021 |
| Mr. Conor McNaughton | Non-Executive Board Member representing Leo 1 & Kingsway Capital | 2021 |
| Mr. Norbert Lurz | Non-Executive Board Member representing Leo 1 & Kingsway Capital | 2021 |
| Mr. Ahmed Badreldin | Non-Executive Board Member Kingsway Capital | 2021 |
| Ms. Samia El Baroudy | Independent Board Member | 2021 |
| Ms. Sahar El Sallab | Independent Board Member | 2021 |
Our Committees
Audit Committee
The primary role of the audit committee is to monitor the integrity of the Macro Group’s financial statements and review the effectiveness of its internal financial controls. The audit committee shall meet as many times as may be deemed necessary provided that it meets at least four times per year. Its key functions are to assist the Board in fulfilling its oversight responsibilities in connection with the following, among other things:
- inspection and review of the procedures regarding the internal inspection of Macro Group and its compliance;
- the study of the followed and alternative audit policies that are a result of the new audit standards;
- inspection and review of the tools and mechanism of the internal audit, its procedures, plans, results and the study of the internal audit report the following up of its implementation;
- inspection of the methods that are used in the preparation of the audit;
- inspection of the preliminary draft of the financial statements before presenting it to the board as a preface before submitting it to the auditor;
- proposal of appointing the auditor and determining their expenses and to view the related matters in regard to their resignation or removal which does not infringe the law;
- stating of opinion in regards to the permission of appointment of the auditor to carryout services on behalf of the company other than the revision of the financial statements and in regards to the estimated costs which does not infringe upon their independence;
- study of the auditor’s report pertaining the financial statements and discussing its substance in what was noted from comments, notes and reservations and the follow up in regards what was done in order to resolve such issues from the perspective of management and the company’s auditor; and
- ensure that a report is submitted to the board by non-conflicted competent experts concerning all related party transactions including their nature and the extent of which such transactions harm Macro Group or the interests of its shareholders, if at all.