DEPA ANNOUNCES THE APPOINTMENT OF INDEPENDENT BOARD DIRECTOROct 14 ,2014
Dubai, UAE; 14 October 2014: Depa Limited (NasdaqDubai: DEPA DU), one of the world’s leading interior contracting companies, announces the appointment of Mr Mohamed Idriss as an Independent Non-executive Board Director, replacing Mr Fahad Al Nabet, with immediate effect. The appointment, along with Mr Al Nabet’s resignation, was approved during the Board of Directors meeting held 12 October 2014; The Board appointed Mr Idriss in line with the Company’s Articles of Association, his re-appointment will be subject to shareholder resolution at the Company’s next general assembly.
Mr Idriss is a financial services veteran with 18 years of experience in investment banking and capital markets sectors in the Middle East & Africa region and globally. He is the founder of Axis Strategic Partners based in DIFC in Dubai , and currently holds the position of Managing Director at the company. Prior to that, he acted as a Managing Director in Nomura in Dubai for four years, leading the Capital Markets division in the MEA region. Previously, Mr Idriss spent 15 years in London and Paris, with Lehman Brothers, Barclays Capital and Credit Lyonnais.
Mr Idriss holds a Master’s degree in Applied Mathematics and a Post Graduate Degree in Banking and Finance from Universite Panthéon Sorbonne in Paris, France.
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