QPIC (Qurain Petrochemical Industries Company) has appointed Sadoun A Ali as the new Chairman of the board, succeeding Sheikh Mubarak Abdullah Al Mubarak Al Sabah.
Sheikh Sabah Mohammad Abdulaziz Al Sabah has been appointed Vice-Chairman and Chief Executive Officer of the company.
Sadoun Ali said: “On behalf of QPIC’s Board of Directors, I would like to extend our sincere wishes and gratitude to Sheikh Mubarak for his distinguished efforts and effective role in leading the board of the company as Chairman since its inception in 2005. QPIC, under his stewardship, has developed into one of the leading industrial holding entities in Kuwait with a strong, balanced and diversified portfolio of industrial companies that has increased in size by seven-fold since the company’s establishment.”
Sheikh Sabah said: “I thank the Chairman and the Board of Directors for their trust, and I look forward to working with them on implementing the company’s strategic goals to maintain and further enhance our shareholders’ interests.”
Sheikh Sabah served as the Vice-Chairman and CEO of United Industries Company (UIC), the industrial arm of Kuwait Projects Company (KIPCO) from 2013 to 2022. He currently chairs the board of United Building Company, and has held several executive positions. He has also served on the boards of many companies since 2006. He holds a Bachelor’s degree in Management and Organization from Kuwait University.
QPIC’s Board of Directors thanked Ali for his efforts in leading the company as the CEO since 2012. The board members also expressed their gratitude for his choice to remain on the Board of QPIC and wished him success in his new role as the Chairman. - TradeArabia News Service
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