Abu Dhabi's Sanad Group appoints new chief executive and deputy

The company names Troy Lambeth as its group chief executive with Mansoor Janahi as his deputy

Mubadala Investment Company’s Sanad Group appointed Troy Lambeth as chief executive and Mansoor Janahi as deputy chief executive.

Mr Lambeth will also continue in his role as chief executive of Sanad Capital, which he has led since its creation in 2009, the company said on Sunday.

Mr Janahi will continue to serve as chief executive of Sanad Aerotech and Sanad Powertech, which he has led since March 2018.

Sanad provides financing, leasing and maintenance services to the global aerospace, energy and industrial sectors.

It was formed last November after Mubadala merged three of its units – Sanad Aerotech, Sanad Powertech and Sanad Capital. Two of these are maintenance, repair and overhaul providers while the third is an aircraft leasing and financing company.

“Troy and Mansoor have been instrumental to Sanad’s growth and development,” said Badr Al Olama, chairman of Sanad and executive director of Mubadala Aerospace.

“As a group, the combined companies will complement each other to deliver a range of comprehensive services and solutions.”

The global aviation industry faces its worst crisis after the Covid-19 pandemic hit air travel demand and affected airlines, plane manufacturers, aerospace suppliers and aircraft lessors.

Companies have taken swift action to preserve cash, reduce costs and restructure their businesses.

The appointments “reinforce Mubadala’s aspirations for positioning Abu Dhabi as a global aerospace ecosystem that is driven by homegrown talent”, the company said.

Abu Dhabi plans to become a key player within the global aerospace supply chain amid a push to diversify its economy.

The emirate is home to Strata, the biggest producer of composite aircraft parts in the Gulf, and Edge, a conglomerate of 25 state-owned defence companies tasked with the development of advanced weapons for the UAE military.

“With significant developments that are taking place through Fourth Industrial Revolution technology, we are seeing new business models that are driven by major customer expectations,” Mr Al Olama said.

The launch of the Sanad Group is part of Mubadala’s plan to build on its investment in aerospace engineering and leasing solutions.

Sanad will also focus on adopting new technology to drive change in the sector.

The group’s deals include Sanad Aerotech's Dh23.8 billion engine-maintenance agreement with Rolls Royce, an MRO services contract for Shams Power Company awarded to Sanad Powertech and the delivery of the final tranche of a Dh1bn engine-leasing deal with Etihad Airways through Sanad Capital.