Dana Gas appoints Ahmed Al-Arbeed as CEO
Posted: 28 April 2009
Dana Gas PJSC, the Middle East’s first and largest private-sector gas company, appointed Ahmed Al-Arbeed as Chief Executive Officer (CEO) of the company, in line with the company’s own Corporate Governance Guidelines and the Corporate Governance codes of the UAE Securities and Commodities Authority (SCA), which call for the separation of roles of the Chairman of the Board and the CEO.
The appointments were nominated by the Chairman of the Board of Dana Gas, Mr. Hamid Jafar, and approved unanimously by the first meeting of the newly elected Board of Directors after the company’s AGM held on the 22nd April 2009.
"The Board of Directors is pleased to announce the appointment of Ahmed Al-Arbeed as Chief Executive Officer, and we are confident that he will continue to add enormous value to the company, as he did in his position as Executive Director, Upstream and as a Board Member since the company was established," said Mr. Hamid Jafar, Chairman of the Board.
"We are also pleased to announce Mr. Rashid Saif Al-Jarwan’s appointment as Executive Director of Dana Gas. Mr. Al-Jarwan has made an enormous contribution to the company in his role as General Manager and Board Member, and we are confident that his efforts in his new role as Executive Director will continue to benefit stakeholders. Both executives will also continue to serve as Members of the Board."
Ahmed Rashid Al-Arbeed benefits from over 30 years’ experience in the international petroleum industry, and was named Executive Director, Upstream for Dana Gas in January 2008.
Prior to joining Dana Gas, Al-Arbeed served as Chairman and Managing Director of Kuwait Oil company (KOC), Board Member of the Kuwait Petroleum Corporation (KPC), Chairman and Managing Director of the Kuwait Foreign Petroleum Exploration Co. (KUFPEC), Managing Director of the 'Kuwait Project' for re-introducing international oil companies to develop Kuwaiti oil fields, and Managing Director of the Privatization and R&D Programs of KPC.
He holds a Bachelor of Science degree in Petroleum and Natural Gas Engineering from Pennsylvania State University.
"It has been my honor to have been involved with Dana Gas, in various capacities since its inception, and to have seen its phenomenal growth over the past few years to become a truly international energy company, with interests across the Region," said Ahmed Al-Arbeed.
"I am honoured to have been appointed to the position of CEO – an opportunity for which I would like to extend my thanks to the Chairman and Members of the Board of Directors, and I look forward to contributing to the company’s continued growth and success in the future for the benefits of its shareholders."
Rashid Saif Al-Jarwan joined Dana Gas as General Manager in February 2006, bringing with him a wealth of oil and gas industry knowledge and experience gained through almost 30 years in the ADNOC Group of companies, where he served as Deputy General Manager of Abu Dhabi company for Onshore Oil Operations (ADCO), and General Manager of Abu Dhabi Gas Liquefaction company (ADGAS).
He was also appointed to the Dana Gas Board in January 2008. Al-Jarwan holds a Bachelor of Science degree in Petroleum and Natural Gas Engineering from Pennsylvania State University in the USA.
Al-Jarwan thanked the Dana Gas Board of Directors for the opportunity to serve as Executive Director of the company, saying, “I look forward to my new duties and responsibilities in this position, and to working together with the rest of the Dana Gas management team to ensure that the company’s many projects proceed smoothly.”
Dana Gas recently announced the appointment of Sheikha Hanadi Nasser Bin Khaled Al Thani, Abdullah Ali Almajdouie, and Nasser Mohammed Al Nowais to its new Board of Directors.
The firm also recently held its third Annual General Meeting, where it outlined its key business achievements for 2008, including a ten percent increase in revenues and an eight percent increase in net profits, and reaffirmed its intention to continue to expand its operations throughout the region.
Posted by Richard Price, Editor, EnergyME.com
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