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The board of the retail arm of Abu Dhabi’s national oil company, ADNOC Distribution, are to receive nearly $7 million in remuneration for 2023.
The seven members of the board, which includes the UAE’s COP28 President Sultan Ahmed Al Jaber, who is also CEO of parent company ADNOC, approved the payment and will receive AED 25.56 million ($6.96 million) subject to the company’s general assembly next week.
Last month, the company reported a net profit of AED 2.6 billion for the year.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
