Dubai — Dubai Holding has announced its executive promotions to strengthen the leadership team.
Ahmad bin Byat was promoted to vice chairman and managing director of the group; while Fadel Al Ali will assume the role of CEO of the group, which employs 22,000 employees, operates in 24 countries and owns assets valued at Dh130 billion.
Mohammad Abdulla Al Gergawi, chairman of Dubai Holding, said: “The track record and extensive expertise of both Ahmad bin Byat and Fadel Al Ali, coupled with the instrumental role that they have played in Dubai Holding’s success over the last 10 years, will contribute significantly to strengthening Dubai Holding’s comprehensive investment strategy that focuses on knowledge, content, technology, economic zones and innovative clusters.”
Al Gergawi added: “Ten years after its inception, Dubai Holding enters a new phase of growth; the group reinforces its leading position in generating added value to the national economy. The group’s leadership will work to keep the momentum going, sustain revenues and profits and increasingly focus on investment in innovation and new strategic sectors.”
Dubai Holding achieved a strong performance in 2014 across all its business sectors. Its net profit rose 42 per cent to Dh4.7 billion, with total revenue at Dh13.2 billion and asset value reaching Dh130 billion.
Ahmad bin Byat, said: “Dubai Holding has gone through rapid phases of growth and successes in the last ten years.”
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