Al Yah Satellite Communications (Yahsat), the satellite operator owned by Mubadala Investment Company, appointed a new chairman and a chief executive as it pursues growth opportunities within the satellite broadband market.
Musabbeh Al Kaabi, chief executive of the UAE Investments platform at Mubadala, will assume the position of chairman of Yahsat’s board while Ali Al Hashemi will be the chief executive, the company said in a statement on Tuesday.
Badr Al Olama, executive director of the UAE clusters unit within Mubadala’s UAE Investments platform, will also join as a board member.
“Today’s change is testament to Yahsat’s dedication to strengthen the company’s position as a robust market leader and globally recognised ICT champion and its effective succession planning to build talent suitably placed to drive the future growth of the company,” Mr Al Kaabi said.
Mr Al Hashemi is currently the chief executive of Thuraya Telecommunications Company, the mobile satellite services subsidiary of Yahsat. He is also the general manager of Yahsat Government Solutions.
Mr Al Hashemi’s appointment “is a direct result of Yahsat’s deep long-term succession planning initiatives and will ensure that the company maintains its momentum on the strategic vision and objectives that have been at the heart of Yahsat’s transformational journey, making it one of the top eight operators in the world in just ten years of operation", Yahsat, said.
The company's chief executive Masood Mahmood will join the board of directors after stepping down from his current role on April 18.
Yahsat offers integrated satellite communications to over 190 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.
Last year, Yahsat commenced construction of Thuraya 4-NGS, the next-generation telecommunications system for Thuraya, which is expected to be in service by 2024.
Yahsat’s fleet of five satellites reaches more than two-thirds of the world’s population, enabling critical communications including broadband, broadcasting and mobility solutions.
