Dubai: Ducab, one of the UAE’s largest manufacturing businesses, has appointed Mr. Meshal Al-Naqbi to the position of Chief Financial Officer, taking responsibility for the management of the company’s global finance operations. Al-Naqbi has been serving as the Deputy CFO at Ducab since 2016.
Dr. Ahmad Bin Hassan Al Shaikh, Ducab Chairman, applauded the appointment: “Ducab are committed to continuous career development for all employees and promotion from within. The Ducab Board have closely followed Meshal’s career since he joined Ducab in 2016 as part of the company’s active development of Emirati professionals. We are delighted to be able to recognise his experience and development with this promotion to CFO”.
Dr. Al Shaikh also paid tribute to Mr. Arif Choksy, the outgoing CFO; “Arif has been Ducab CFO since 2001 and has been a vital part of the company’s incredible growth story. His financial prowess and understanding of the business have brought great value to the Board and Management team alike. I am pleased that he will be staying in Ducab to continue his work developing our future strategy and guiding the company’s continued expansion into new industries and global markets”.
Andrew Shaw, Ducab CEO, welcomed Al-Naqbi to his new role; “This is Ducab’s 40th anniversary year and we warmly welcome Meshal as our first Emirati CFO. As well as responsibility for the finance operations of Ducab he will also oversee the finance function for Ducab joint ventures and subsidiaries Ducab High Voltage, Ducab Aluminium Company and AEI Cables, UK”.
A UAE national, Al-Naqbi earned his undergraduate degree from the American University of Sharjah. He later received his credentials as a Certified Public Accountant (CPA) in the United States, followed by an Executive MBA from the Dubai branch of the Cass Business School, part of City University of London. In addition to his previous role at Ducab, he has worked across multiple sectors with companies as PwC, Emirates NBD, Ali Mousa and Sons Group, Emirates Nuclear Energy Corporation, Central Bank of the UAE, and Abu Dhabi National Exhibitions Company (ADNEC).
Ducab is a global leader in the development, design, manufacture, marketing and distribution of copper and aluminium wire and cable products. Having recently added overhead conductors to its portfolio, today Ducab works with customers around the world, expanding from its home market in the UAE to the wider Middle East, Africa, Asia and Australasia, Europe, and the Americas. The company was founded in 1979 and is jointly owned by the Investment Corporation of Dubai and Senaat (General Holding Corporation, Abu Dhabi).
As of 2019, Ducab Group comprises of several business units: Ducab Wires and Cables; Ducab High Voltage (HV), a joint venture between Ducab, Dubai Electricity and Water Authority (DEWA) and Department of Energy; Ducab Metals, which supplies copper rod and wire to the region; and Ducab Aluminium Company (DAC), a joint venture between Ducab and Senaat which manufactures aluminium rod and conductors.
Ducab operates six manufacturing facilities across 4 sites in the UAE with all its production based within the country. Employing over 1600, the company serves customers worldwide in the fields of energy, general construction, oil & gas, renewables, industrial, defence, rail transport, marine, mining and other specialty industry verticals.
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© Press Release 2019