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2009 Jun 16

Waha Capital appoints new CEO

Abu Dhabi, 16 June 2009: Waha Capital PJSC, the Abu Dhabi-based, ADX-listed and diversified holding company has appointed Salem Rashid Al Noaimi as its CEO. Al Noaimi previously served as Deputy CEO of the company and CEO of Waha Leasing, a wholly-owned subsidiary of Waha Capital.

The announcement followed a meeting of the Waha Capital board of directors held in Abu Dhabi today, which was chaired by H.E Hussein Jassem Al Nowais, Chairman of the company.

Commenting on the appointment, Al Nowais, Chairman of Waha Capital said: "This announcement is in line with our policy that aims at nurturing, qualified UAE management talent which is capable of leading our growth drive. I'm confident that the new CEO and his team will excel in their mission to fulfill the aspirations of the board of directors, which is focused on capitalizing on opportunities across sectors while simultaneously ensuring the benefit of all the company's stakeholders and partners in both the private and public sectors."

Al Nowais thanked Samer Al Haj, Waha Capital’s former CEO, for his contribution in overseeing the restructuring and rebuilding process of Waha Capital, as well as his role in the recruitment of appropriate talent capable of leveraging the company's competitiveness at all levels.

Salem Al Noaimi, the new CEO of Waha Capital said: "I am honored to be appointed to this key position and to have the opportunity to lead a highly qualified team capable of surmounting every possible challenge. We are focused on economic diversification and exploring new sources of income in the years ahead as we move forward with the full backing of the company’s board and the other stakeholders."

Al Noaimi, who holds a BA in Finance and International Business from Northeastern University in Boston joined Waha Leasing before its restructuring in August 2004 as Business Development and Investor Relations Director. He was appointed deputy CEO in 2006 and acting CEO in 2007 and promoted to Deputy CEO of Waha Capital and CEO of Waha Leasing in 2008. His previous work experience includes stints at Dubai Islamic Bank, the UAE Central Bank, the Abu Dhabi Fund for Development and Kraft Foods. He is member of the board at a number of companies including Abu Dhabi Ship Building, Dunia Finance, Siraj Finance, MENA Infrastructure Fund and Bahrain’s ADDAX Bank.

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