Adnoc Distribution, the UAE's largest fuel retailer, appointed Bader Al Lamki as its new chief executive, the company said.
Mr Al Lamki, who will replace the acting chief executive Ahmed Al Shamsi, will take up the role on May 27, the company said in a statement on the Abu Dhabi Securities Exchange, where its shares trade.
Mr Al Lamki, who brings more than 20 years of industry experience in various industries such as oil and gas, energy efficiency, clean energy and utilities sectors, had most recently held the position of chief executive at National Central Cooling Company, also known as Tabreed.
“I look forward to welcoming Eng. Bader on board, an experienced CEO with a pedigree of success in his recent leadership roles, as we continue to drive forward with our smart growth strategy, with a focus on delivering modern fuel retail convenience to customers and added value to our shareholders,” Dr Sultan Al Jaber, chairman of Adnoc Distribution, said in a statement. Dr Al Jaber, the Minister of Industry and Advanced Technology, is also managing director and chief executive of Adnoc Group.
Mr Al Lamki has also held senior positions at Masdar, supporting business growth activities. He steered the advancement of the company’s renewable energy portfolio in 25 countries, leading on a number of its most iconic projects.
He has also worked for Abu Dhabi Marine Operating Company, an Adnoc Group company, where he led a successful strategic initiative to increase the company’s daily oil production.
On may 12, Adnoc Distribution said its shares will join the Morgan Stanley Capital International (MSCI) Emerging Markets index from May 27. The fuel retailer will join nine other UAE-listed companies that are part of the index – which is tracked by funds with billions of dollars worth of assets.
It reported a 58 per cent rise in first-quarter profit this year, helped by growth in its fuel retail and commercial segments.