Developer Nakheel appoints new chairman

Developer Nakheel has announced changes to its board of directors following the resignation of its chairman Ali Rashid Lootah.

According to Dubai Media Office, Lootah will be taking up a new position on the board of Dubai World following an invitation from His Highness Sheikh Ahmed bin Saeed Al Maktoum.

Mohammed Ibrahim Al Shaibani has been appointed as Nakheel’s new chairman. 

He is one of four new members on the company’s expanded seven-member board.

Nakheel adds Mohammed Ibrahim Al-Shaibani, Sultan bin Sulayem, Khalifa Al Daboos and Issam Galadari to its board. They will be appointed as board directors in addition to current directors, Khalid bin Bakhit Al Falasi, Ibrahim Hussain Al Fardan and Adel Khalifa Al Shaer.

— Dubai Media Office (@DXBMediaOffice) January 21, 2020

H.E. Mohammed Ibrahim Al-Shaibani: “Nakheel has managed under the stewardship of Ali Lootah and his years of dedication to steady its course and return to profitability. On behalf of the new board, I would like to thank Ali and wish him the best of luck in his new role.”

— Dubai Media Office (@DXBMediaOffice) January 21, 2020