AsiaNet 88014

ABU DHABI, UAE, Feb. 9, 2021 /PRNewswire=KYODO JBN/ --

    Al Yah Satellite Communications Company (Yahsat) has announced the

appointment of three new members to its Board of Directors. Musabbeh Al Kaabi,

CEO of the UAE Investments platform at Mubadala Investment Company PJSC

(Mubadala), will assume the position of Chairman of the Board, and Badr Al

Olama, Executive Director of the UAE Clusters unit within Mubadala's UAE

Investments platform, will join as a Board member.

    Masood Sharif Mahmood will also join the Board of Directors, stepping down

from his current role as CEO of Yahsat Group with effect from 18th April, after

nearly 9 years in the role. Ali Al Hashemi, the current CEO of Thuraya

Telecommunications Company and the General Manager of Yahsat Government

Solutions, will take over as the new Chief Executive Officer of Yahsat Group

from 18th April, 2021.  

    New Board Members

    Commenting on the announcement, Musabbeh Al Kaabi said, "Today's change is

testament to Yahsat's dedication to strengthen the company's position as a

robust market leader and globally recognized ICT champion and its effective

succession planning to build talent suitably placed to drive the future growth

of the company."

    Through his role in Mubadala, Musabbeh Al Kaabi oversees the portfolio that

supports the UAE's continued acceleration and transformation by investing in

national champions, fostering vibrant industrial and commercial clusters, and

partnering with world-class global entities. Musabbeh is also a member of

Mubadala's Investment Committee, playing a strategic role advising on all major

investment decisions related to all of Mubadala's sectors and businesses.

    Badr Al Olama's addition to the Board brings a wealth of expertise through

his capacity as an Executive Director of the UAE Clusters unit within UAE

Investments Platform in Mubadala, overseeing a diverse portfolio of assets in

multiple sectors including technology, aerospace and healthcare, as well as

incubating new sectors to further diversify the UAE's economy such as clean

energy and life sciences.

    Masood Sharif Mahmood's appointment to the Board will ensure that the Group

will continue to benefit from his extensive experience and longstanding

leadership in the satellite industry and his role as a senior stakeholder in

several UAE and international entities. Through this role, Masood will work

closely with the management team to ensure a seamless transition and to support

the Group in furthering its strategic objectives as it embarks on the next

stage of growth and development.

    Commenting on his appointment to the Board, Masood Sharif Mahmood said: "I

am honoured to be able to continue to actively support the company as a member

of the Board, and am confident that Yahsat will continue its significant

contributions to the UAE space sector and economy, and further strengthen its

place as a global leader in the satellite industry."

    CEO Succession

    Ali Al Hashemi's appointment as the new CEO of the Yahsat Group is a direct

result of Yahsat's deep long-term succession planning initiatives and will

ensure that the company maintains its momentum on the strategic vision and

objectives that have been at the heart of Yahsat's transformational journey,

making it one of the top eight operators in the world in just ten years of

operation.

    Al Hashemi brings a wealth of satellite knowledge and industry experience

to the role, currently occupying the dual role of General Manager of Yahsat

Government Solutions services and CEO of Thuraya Telecommunications Company,

the mobile satellite services subsidiary of Yahsat. Applying his background in

Mechanical Engineering and his MBA in Business from London Business School, he

has overseen a significant and sustained period of growth in the Government

Services division of Yahsat, securing several key long-term contracts with the

UAE Government and UAE Armed Forces to cement Yahsat's position as the trusted

and preferred partner for the nation's satellite solutions. In his role as CEO

of Thuraya, he has successfully turned around the company within 2 years and,

with the recently announced construction of Thuraya 4-NGS, the next generation

satellite system, the Group's products and solutions portfolio will be greatly

enhanced for both government and commercial customers, reinforcing its position

as a leader in the mobile satellite solutions industry.

    Photo: https://mma.prnewswire.com/media/1435561/Musabbeh_Al_Kaabi_Yahsat.jpg

    Photo:

https://mma.prnewswire.com/media/1435560/Ali_Al_Hashemi_Yahsat_Group.jpg

    Photo:

https://mma.prnewswire.com/media/1435562/Badr_Al_Olama_and_Masood_M_Sharif_Mahmood.jpg

    Source: Al Yah Satellite Communications Company (Yahsat)