Dubai: Dubai Holding announced on Saturday promotions to strengthen its leadership team.
Ahmad Bin Byat has been promoted to Vice-Chairman and Managing Director of the Group, and Fadel Al Ali will assume the role of Chief Executive Officer, according to a press release from the company.
Dubai Holding employs 22,000 people, operates in 24 countries and owns assets valued at Dh130 billion.
Mohammad Abdullah 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 ten years, will contribute significantly to strengthening Dubai Holding’s comprehensive investment strategy that focuses on knowledge, content, technology, economic zones and innovative clusters”.
“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,” Al Gergawi said.
Last year Dubai Holding achieved strong performance across all its business sectors. Its net profit rose 42 per cent to Dh4.7 billion on revenues of Dh13.2 billion.
