Saudi Gazette report

RIYADH — Public Investment Fund (PIF) Governor Yasir Al-Rumayyan called on directors to treat PIF and its 220 portfolio companies as a single, integrated ecosystem, during the second edition of the PIF Directors’ Gathering held Monday in Riyadh.

Bringing together over 1,000 directors and executives from Saudi Arabia and abroad, the forum aimed to align strategic priorities and foster collaboration across the PIF network.

Al-Rumayyan emphasized that cooperation among the portfolio companies should be considered a key measure of success.

The event focused on optimizing board performance and enhancing synergies across PIF’s portfolio — which includes 103 companies established directly by the sovereign fund.

Discussions centered on redefining board impact amid national transformation, strengthening oversight in a changing risk environment, and addressing the governance challenges posed by AI and emerging technologies.

Al-Rumayyan outlined three main board responsibilities: setting strategy, ensuring governance frameworks for management, and performance monitoring.

He stressed that embracing these roles collectively can help transform macroeconomic challenges into leadership and growth opportunities.

The gathering is part of PIF’s broader corporate excellence strategy, including the work of its Center for Governance, established in 2020.

The center offers development programs, advisory services, and thought leadership to support effective governance across both PIF-owned entities and the wider Saudi private sector.

The fund’s governance framework promotes merit-based hiring, accountability, and board-management clarity. It also aims to position Saudi Arabia as a global business destination and innovation hub.

Since its launch in 2023, the PIF Directors’ Gathering has served as a platform for enhancing boardroom excellence and aligning long-term objectives across the Kingdom’s investment landscape.