Dubai Holding CEO and vice chairman step down

      Published on Tuesday, 4 April , 2017      87 Views     
Dubai Holding CEO and vice chairman step down

  • Gulf News

The chief executive and vice chairman of Dubai Holding have left the company, it said on Thursday, continuing a string of high-profile staff changes at the investment vehicle of the emirate’s ruler.

The departures come a few days after Abdulla al-Habbai was chosen as chairman of the investment conglomerate by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum, giving him responsibility for a $35bn portfolio of assets in more than 20 countries.



Dubai Holding chief executive Fadel al-Ali and vice chairman and managing director Ahmad Bin Byat had decided to “step down” from their positions, the company said in a statement.

“Both of them have played an exceptional role in building the business and have been instrumental in making Dubai Holding the globally recognised investment conglomerate and national champion that it is today,” the company said.

Al-Habbai, who is also chairman of real estate developer Meraas Holding, will oversee the business, Dubai Holding said without elaborating.

Dubai Holding’s previous chairman, Mohammed Abdullah al-Gergawi, resigned last month, having headed the company since it was founded in 2004. Gergawi said he wanted to work full-time for the United Arab Emirates government, where he is minister of cabinet affairs and in charge of strategy development.

Outgoing CEO al-Ali, who is believed to be in his early sixties, has been with the company since 2005 and was described as “very hands-on” by a source familiar with the matter, helping to steer the company’s investment firms through restructurings after the global financial crisis.



He is also chairman of Dubai Properties, Dubai International Capital and Dubai Group, according to the Dubai Holding website.

Keywords:
Category Gulf News | 2017/04/04 latest update at 8:00 AM
Source : | Photocredit :
88 Views
Comments Add comment



Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources
Saudi Arabia Saudi Arabia news

Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources

Saudi Arabia’s Fawaz Alhokair Group plans to offer shares in its shopping malls business in Riyadh in the…

Saudi Arabia new rules

Property prices continue to fall in key UAE markets

UAE banks invest Dh87 billion in Saudi Arabia, Egypt

King Salman receives dignitaries in Riyadh King

King Salman receives dignitaries in Riyadh

The Kingdom’s Grand Mufti Sheikh Abdul Aziz Al-Asheikh, senior scholars, ministers and a group of citizens called on…

Saudi King Salman reshapes country’s political and security affairs council King

Saudi King Salman reshapes country’s political and security affairs council

Saudi King Salman on Thursday announced a new list of appointees to key positions in the country’s political…

Saudi Arabia’s Prince Talal bin Abdulaziz has died King

Saudi Arabia’s Prince Talal bin Abdulaziz has died

Saudi Arabia’s Prince Talal bin Abdulaziz passed away on Saturday, family members and Saudi media said on Twitter.…

Bahraini crown prince meets Saudi officials in Riyadh King

Bahraini crown prince meets Saudi officials in Riyadh

Bahrain Crown Prince Salman bin Hamad Al-Khalifa held talks with Saudi officials in Riyadh this week. His visit…

GULF TV

Popular in GULF TV

PIRELLI “DREAMING” – THE CAL 2019 making of Full Version | Fashion Channel

1898 Views

A photographic tale of the aspirations of four women and their determination to achieve their goals, each one…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government