Depa Appoints Two Non-Executive DirectorsJul 8 ,2015
Mohannad Sweid and Ahmed Ramdan join the Board of Depa Limited
Dubai, UAE; 8 July 2015: Depa Limited (Nasdaq Dubai: DEPA; “the Company”/“the Group”), one of the world’s leading interior contracting companies, is pleased to announce the appointment of Mr Mohannad Sweid, as a Non-Independent, Non-Executive Director of the Company, and Mr Ahmed Ramdan, as an Independent Non-Executive Director of the Company, with immediate effect, replacing Mr El Sayed Zakaria and Mr Mohamed Idriss, who have both resigned.
Mohannad Sweid has more than 25 years’ experience in managing top interior consulting and interior contracting companies. In 1996, he co-founded Depa Interiors, which became part of Depa United Group, and served as Chief Executive Officer until October 2013. In 2006, Mr Sweid was involved in Depa's strategy of overseas expansion and managed the acquisition of complementary companies in the interior contracting and furniture manufacturing sectors. Prior to Depa Interiors, he served as the Managing Partner of Rochan Fine Arts in Saudi Arabia. Currently he serves as President and CEO of Sweid and Sweid, a Dubai-based real estate firm.
Ahmed Ramdan is the founder and Group Chief Executive Officer of Ròya International LLC, a prominent GCC-based hospitality advisory firm. Before establishing Ròya International, Mr Ramdan had a highly successful, 30 year career in hotel management, including running multiple properties on behalf of global hotel brands such as InterContinental Hotels and Le Méridien hotels. Mr Ramdan has also served as a key advisor to government institutions on some of the Middle East’s most iconic projects, including the Dubai International Financial Centre, Dubai Media City, Jumeirah Beach Residence, as well as Reem Island and Saadiyat Island in Abu Dhabi.
Mr Mohamed Al Fahim, Chairman of Depa Limited, said: “I am delighted that Mr Mohannad Sweid and Mr Ahmed Ramdan are joining the Board of Depa Limited. Both individuals have had distinguished, wide-ranging careers and bring extensive international experience from working across the hospitality, real estate and interior contracting sectors. The Board looks forward to receiving their valuable insight as Depa continues to look to grow internationally, strengthening its reputation as a world-leading interior contracting company.”
On 16 June, 2015, Mr Zakaria and Mr Idriss gave notice of their resignations from their positions as Independent Board Members of the Company due to other professional commitments.
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