Sheikh Mohamed Bin Faisal Al Thani appointed Chief Executive Officer of Aamal Company Q.P.S.C.
Sheikh Mohamed Bin Faisal Al Thani appointed Chief Executive Officer of Aamal Company Q.P.S.C.
Doha – Qatar, 19 March 2019: Aamal Company Q.P.S.C., one of the region’s fastest growing diversified companies, is pleased to announce the Board of Directors’ decision of 26 February 2019 to appoint Sheikh Mohamed Bin Faisal Al Thani as the CEO of the Company. In addition, Sheikh Mohamed will continue to serve in his current position as Aamal’s Managing Director.
This appointment marks the start of a series of internal enhancements that Aamal is implementing, to further improve the Company’s efficiency and effectiveness.
Sheikh Mohamed has been a member of the Board of Directors of Aamal Company since 2009. He is also a member of the Board of Directors of Al Khaliji Bank, and the Honorary President of the Italian Chamber of Commerce in Qatar. He was awarded a bachelor’s degree in Commerce and Business Administration from Carnegie Mellon University, Qatar.
Sheikh Mohamed Bin Faisal Al Thani, CEO and Managing Director of Aamal Company, commented: “It is truly an honor to have gained the trust of the Board of Directors and to be appointed CEO and Managing Director of Aamal. This appointment gives me an enhanced role in leading Aamal forward and in helping to realize the Board’s vision, including achieving further growth and prosperity for our Company and country.”
Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal Company, commented: “This decision is in line with Aamal’s ongoing commitment to best practice and the highest professional standards, including in our transparency and application of the Corporate Governance Code. This appointment is also in accordance with the Board’s continuity plan to ensure the implementation of the strategic objectives, which have guided Aamal since our establishment. We aim to achieve these objectives under the leadership of our efficient management team, and we will be making further appointments to be announced in due course.”
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[Note to Editors]
This announcement is not considered price-sensitive information. Referencing Articles (47), (50), and (58) of QFMA’s Rulebook on Offering and Listing of Securities and QFMA’s instructions on the disclosure of significant non-financial information that has impact on the share price of a listed company, this corporate development doesn’t fall under the scope of the rules and regulations concerning disclosing non-financial price-sensitive information.
Further enquiries
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Aamal Company |
+ 974 4422 3888 |
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Arwa Hamdieh, Investor Relations & Compliance Manager (fixed # +974 4422 3888 Ext. 2285) |
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About Aamal Company Q.P.S.C.
Aamal is one of the region’s fastest growing diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As at 17 March 2019, the Company had a market capitalization of QAR 6.1bn (US$ 1.7bn).
Aamal’s operations are widely diversified and comprise 26 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar’s wider economic growth and development. Aamal is focused on self-financed and profitable growth, delivering an average increase in underlying profits in excess of 11.1% (i.e. before fair value gains on investment properties) over the twelve years to end-2018.
For further information on Aamal Company, please refer to the corporate website: aamal.com.qa
