Dubai Holding CEO and vice chairman step down

      Published on Tuesday, 4 April , 2017      363 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 :
364 Views
Comments Add comment



Gulf Media

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 Arabia pledges full support to Greek Cypriot administration King

Saudi Arabia pledges full support to Greek Cypriot administration

Saudi Arabian Foreign Minister Prince Faisal bin Farhan al-Saud expressed full support for the Greek Cypriot administration amid…

Saudi Cabinet voices support for the territorial sovereignty of Cyprus Government

Saudi Cabinet voices support for the territorial sovereignty of Cyprus

Saudi Arabia has voiced its support for Cyprus’ territorial sovereignty amid growing tensions following the discovery of oil…

How G20 presidency is likely to deliver Saudi economic boost Government

How G20 presidency is likely to deliver Saudi economic boost

Saudi Arabia becoming the first Arab nation to take over the G20 presidency is likely to deliver a…

Saudi Arabia offers ‘full support’ to Cyprus amid Eastern Mediterranean tensions Government

Saudi Arabia offers ‘full support’ to Cyprus amid Eastern Mediterranean tensions

Saudi Arabia’s King Salman received on Sunday the Cypriot Foreign Minister Nikos Christodoulides. They discussed bilateral relations between…

GULF TV

Popular in GULF TV

Saudi Crown Prince Wife|Why Not with him In the Foreign Tour’s

2821 Views

Saudi Crown Prince Wife Princess Sara bint Mashoor, Why Not with him In the Foreign Tour’s. Prince Mohammed…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government