DEPA APPOINTS TWO NON-EXECUTIVE DIRECTORSAug 25 ,2015
Mr. Khalifa Abdulla Al Romaithi and Mr. Saeed Mohamed Saeed Faraj Al Mehairbi join Depa Board
Dubai, UAE; 25 August 2015: Depa Limited (Nasdaq Dubai: DEPA; “the Company”/“the Group”), one of the world’s leading interior contracting companies, is pleased to announce the appointments of Mr Khalifa Abdulla Al Romaithi and Mr Saeed Mohamed Saeed Faraj Al Mehairbi as Non-Independent, Non-Executive Directors of the Company, with immediate effect. They replace Mr Iyad AbdalRahim and Mr Wassel Al Fakhoury, who both gave notice of their resignations on 13 July 2015.
Saeed Al Mehairbi’s extensive career has been focused on the successful delivery of major projects, primarily in the oil and gas industry. A trained engineer and certified project management professional, he began his career with Abu Dhabi National Oil Company (ADNOC), where he was seconded to the projects department of the Abu Dhabi Company for Onshore Oil Operations (ADCO), before working in ADNOC’s exploration & production directorate. In 2007, Mr Al Mehairbi joined International Petroleum Investment Company (IPIC), where he currently serves in the key role of operational projects head. He is also board member of Emirates LNG, Duqm Refinery, Arabtec Holding, SUMED Egypt, IPIC Refinery Holding and Abu Dhabi Pakistan Holding.
Khalifa Al Romaithi’s brings a breadth of experience in both the energy sector and diversified investments. A long-serving employee of the International Petroleum Investment Company (IPIC), he is currently head of diversified investments at the Abu Dhabi-headquartered company. Mr. Al Romaithi represents IPIC’s interests for a number of its holdings. He is a board and investment committee member of Qatar Abu Dhabi Investment Company; director and investment committee member of Falah Fund; chairman of Gulf Energy Maritime; and an investment committee member of Aabar investments. Outside of IPIC, Mr Al Romaithi is a board member and chairman of the audit committee of Abu Dhabi National Takaful Co and Arabtec Holding.
Mr Mohamed Al Fahim, Chairman of Depa Limited, said: “I am delighted to welcome Mr Al Romaithi and Mr Al Mehairbi to the Board of Depa Limited. They join at an important time in the Company’s development, as we streamline our operations, reinforce our position in core countries, and diversify into new, high-growth markets. Their extensive industry experience, gained across a range of geographies and sectors, will be of great benefit to Depa as we move forward with this strategy.”
Depa specialises in the turnkey fit-out and furnishing of five star hotels and resorts, high-end retail stores and malls, luxurious offices, large scale infrastructure projects such as airports, villas, palaces, private jets and yachts around the world.
For further enquiries, please contact:
Group General Counsel
& Company Secretary
Tel: + 971 4 446 2100
Tel: +971 4 450 7600
For more information, please refer to the corporate website: www.depa.com