Michael Davis has resigned as CEO of NMC, the largest private healthcare provider in the UAE. A spokesperson for the group confirmed his exit after five years with the company and credited him for leading NMC "successfully through a challenging period".
"He has indicated to the board of directors that he intends to step down from the role and leave the company later this year. The board is working closely with Davis to ensure a smooth leadership transition and will communicate these details to all stakeholders at the appropriate time," said the spokesperson.
Davis led the group through some tumultuous times. He oversaw the group's exit from administration in March this year, making its companies subsidiaries of a new company named NMC OpCo Ltd.
Davis remains in his position as CEO of NMC Opco Ltd, the statement added.
NMC Healthcare PLC entered administration in April 2020 following legal action taken by significant creditors in response to several developments at the company. The 34 operating companies subsequently filed for voluntary administration in ADGM in September 2020.
Joint administrators Alvarez & Marsal worked closely with creditors and the new management team at NMC led by Davis to design and implement a three-year business plan. The plan prioritised the provision of high-quality healthcare, while achieving financial stability through operational efficiency and the sale of non-core assets.