UAE's Al Qudra Hldg Replaces Chairman, Reshuffles Bd Members |
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Tuesday, May 20, 2008
DUBAI (Zawya Dow Jones)--Abu Dhabi-based conglomerate Al Qudra HoldingAl Qudra Holding
said Monday it has replaced the chairman and reshuffled board members following the delay of its planned 55% share sale.
Former chairman Salah Salem Bin Omair Al Shamsi was replaced at the company's annual general assembly by Hamad Bin Abdullah Al Shamsi.
Mohammed Abdullah Al Qubaisi was appointed as the vice-chairman, and Mahmood Ebraheem Al-Mahmood as the chief executive officer and the managing director of Al QudraAl Qudra.
The new board of directors will include Salem Rashid Al Niyadi, Amer Abdul Al Jalil Al Fahim, Mohammed Mubarak Al Mazrouei, Hamad Mubarak Al Shamsi, Mohammed bin Thaloub Al Diri and Khaled Salem Al Muhairi.
Al QudraAl Qudra, which has 30 companies operating in five major sectors - real estate, infrastructure, industry, services and agriculture - had postponed in March its 3.7 billion U.A.E. dirham ($1 billion) initial public offering to a later date in 2008.
-By Mirna Sleiman, Dow Jones Newswires, 0097143644966, mirna.sleiman@dowjones.com
Copyright (c) 2008 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
20-05-08 0701GMT
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