Aldar Properties, the country's second-largest developer, announced a restructuring of its leadership today. Aldar's chief operating officer, John Bullough, will take over as chief executive. Ronald Barrott, current chief executive, will now become an adviser to the company's chairman, Ahmed al Sayegh, while remaining a member of the board. Both appointments will take immediate effect.
"Our business has benefited hugely from an entrepreneurial focus on growth led by Ron Barrott over the last three years and I look forward to his contribution as adviser to Aldar," said Mr Sayegh. "Growth still remains a priority; however our obligation and focus are necessarily now about executing against the opportunities that have been built for our shareholders, customers and partners." Aldar's major projects in Abu Dhabi include Al Raha Beach, Yas Island, Al Gurm Resort and Central Market. The company also has a 30 per cent stake in Al Maabar, a company set up in joint venture with Sorouh, Reem Investments, Reem International and Al Qudra Holdings, for the development of projects abroad.
Aldar is expected to announce a new chief operating officer shortly. agiuffrida@thenational.ae
