Dubai: Alternative investment firm Investcorp said on Wednesday its founder and chairman Nemir Kirdar has stepped down.
Dr Yousuf Al Ebraheem, who is currently the vice-chairman, has been nominated as his successor and Khalid R. Al Zayani has been appointed vice-chairman of the board, the firm said in an emailed statement.
“Looking to the future, with Mohammad Alardhi as Executive Chairman, there is clear vision in place and an exciting future for the business ahead,” Dr Yousuf Al Ebraheem, chairman-elect of Investcorp’s Board of Directors, said in a statement.
Dr Yousuf Al Ebraheem has served on Investcorp’s board since May 2014. Dr Al Ebraheem is the Advisor of Economic Affairs to the Amir of the State of Kuwait, having previously served as Kuwait’s Minister of Finance, as well as its Minister of Planning, Minister of State for Administrative Development Affairs and Minister of Education and Higher Education.
Dr Al Ebraheem sits on the Board of a number of major institutions including the American Kuwaiti Alliance and the Arab Gulf States Institute. As at June 30, 2017, the Investcorp had $21.3 billion (Dh78 billion) in total assets under management.
