Oman Cables appoints new board; first woman chairperson

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Oman Cables Industry (OCI), a leading cable solutions provider, has appointed a new Board of Directors led by Cinzia Farisè as the Chairperson. She is the first woman chairperson of leading a manufacturing listed company in Oman.

The appointment came at the company’s Annual General Meeting held this week. The board members cover a broad spectrum of international skills, educational background, professional qualifications, experience and expertise strengthening the robust corporate governance framework, the company said.

The new board will include Mohamed Al Lawati (Vice Chairperson), Sayyid Shabib Al Busaidi, Laura Figini, Fabrizio Rutschmann, Yasser Al Rashdi and Ian Prescott.

Cinzia Farisè has a long track record of board membership and chairmanship in various multinational companies, in addition to being a member of the Advisory Board of Sultan Qaboos University of Oman, College of Engineering. She served as the Chief Executive Officer at Oman Cables and as Regional Chief Executive Officer at Prysmian MEART (Middle East, Africa, Turkey, Russia and India), before moving to her global role as the Executive Vice President Power Grids at Prysmian Group.

The AGM also approved the financial results for 2023 with a turnover of OMR248.17 million ($644.75 million) and a net profit of OMR18.93 million, marking a 69.4% increase compared to last year.

Farisè commented: "During the recent years Oman Cables has shown continued growth and a robust financial performance. The strong focus on differentiation was paying, and the significant increase in profitability is the result of a clear strategy aiming to support the ongoing energy transition, within the frame of Oman vision 2040. Our unwavering commitment is to elevate the shareholder and stakeholder value further.”