Abu Dhabi's Edge appoints Faisal Al Bannai as executive chairman of board

Mansour AlMulla succeeds Mr Al Bannai as new group managing director and chief executive

FILE PHOTO: Faisal Al Bannai, EDGE chief Executive is seen during an interview with Reuters in the International Defence Exhibition, Abu Dhabi, United Arab Emirates February 22, 2021. REUTERS/Khushnum Bhandari/File Photo
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UAE defence conglomerate Edge appointed Faisal Al Bannai as executive chairman of the group's board of directors in a reorganisation of its leadership team as the company prepares for its next phase of growth.

Mansour AlMulla will join Edge and succeed Mr Al Bannai as the new group managing director and chief executive, Edge said on Monday.

"The addition of Mansour to the new board of directors will create a fertile environment for further growth as Edge moves to grow its footprint in the region and in key markets around the world," Mr Al Bannai said.

"His proven track record in sound leadership and his depth of experience will be instrumental in achieving the objectives of Edge for developing and promoting our sovereign capabilities and for creating a global centre of excellence here in the UAE."

The Abu Dhabi-based group with 25 companies under its umbrella, specialises in building advanced technology for weapons systems, cyber protection and electronic warfare. This includes developing drones, unmanned aerial vehicles and smart defence equipment.

Mr AlMulla, whose professional career has spanned 22 years with several senior positions at large UAE companies, was most recently the group chief investment officer at ADQ. He has also held various senior management positions at Mubadala Investment Company, including chief financial officer at Mubadala Petroleum.

He is a board member of Abu Dhabi National Energy Company (Taqa), Abu Dhabi Ports Company, Abu Dhabi Global Market and Etihad Aviation Group.

Other members of Edge's new board of directors include Kamal Al Maazmi, Khalifa Al Suwaidi, Mohamed Al Ariyani, Saeed Al Mazrouei and Samer Abdulhaq.

In November 2021, Edge said it had won contracts to export a range of its products to the US, Western Europe and Africa as part of its ambitions to expand into international markets with locally-made wares.

Edge signed 20 export sales contracts worth more than Dh1 billion ($272.2m) for electronic warfare, drones and ammunition last year, Mr Al Bannai told The National during the Dubai Airshow 2021.

Updated: January 31, 2022, 12:50 PM