Abdulla Al Nuaimi appointed as TAQA’s new CEO

This is second restructuring in six months, as Carl Sheldon was appointed General Manager on October 19, when Peter Barker-Homek, the company’s first chief executive officer stepped down. Abu Dhabi National Energy Company’s full-year 2009 profit plunged 90 per cent as commodity prices declined.

On March4, Moody’s Investors Services downgraded TAQA’s corporate credit rating from Aa2 (review for downgrade) to A3 (stable).

TAQA’s Executive Committee currently comprising Abdulla Saif Al-Nuaimi, Salem Al Sayaari and Carl Sheldon will be replaced by a top executive management structure consisting of Abdulla Saif Al Nuaimi and Carl Sheldon.

The leadership appointments will build on the strategic expertise and industry experience already in place with Abdulla Saif Al Nuaimi continuing in his role as a member of the TAQA Board of Directors, which he has held since 2005. TAQA Chairman Hamad Al Hurr Al Suwaidi believes that the new appointment will help drive forward the company’s strategy, and through the combined expertise of the new CEO and General Manager, the outlook is exceptionally positive for TAQA.

haseeb@khaleejtimes.com