Abu Dhabi Investment Authority (Adia)’s board is lighter as two members have departed while a new position has been created in the latest reshuffle.
Sheikh Khalifa, the President and Ruler of Abu Dhabi, issued a decree restructuring the board of directors for Adia on Monday – a move that typically takes place every three years. Sheikh Khalifa retains his chairmanship of the sovereign wealth fund. Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, remains on the board, with a new title as deputy chairman.
Two former members – Sheikh Sultan bin Zayed and Hamad Al Hurr Al Suwaidi – have left.
The decree also confirmed another term for the board members Sheikh Mansour bin Zayed, Sheikh Hamed bin Zayed, Sheikh Mohammed bin Khalifa Al Nahyan, Mohammed bin Habroush Al Suwaidi and Khalil Mohammed Sarif Foulathi.
Adia is one of the world’s largest sovereign wealth funds, ranking fifth with estimated assets of US$792 billion last year, according to the Sovereign Wealth Fund Institute.
lgraves@thenational.ae
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