Dubai: Dubai Holding on Saturday announced that its chairman, Mohammad Abdullah Al Gergawi, has received approval to step down from his position to focus on government work.
Al Gergawi, who also serves as Minister of Cabinet Affairs of the Federal Government of the UAE, got approval to step down from Shaikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
“Keeping in mind our proud successes and auspicious future, and His Highness Shaikh Mohammed Bin Rashid Al Maktoum’s blessing, I inform you that my mission at Dubai Holding has come to end, paving the way for another talented person to take over, and allowing me to dedicate myself to my calling in government for the foreseeable future,” he said in a letter addressed to staff at Dubai Holding.
The letter from Al Gergawi, who had been serving as chairman for the past 18 years since Dubai Holding’s inception, also highlighted the business growth since its launch. It did not, however, disclose further details on his plans or who would replace him as chair.
“At the beginning, our team was comprised of only 20 members. Today, we are proud to employ over 22,000 people in 21 countries in the telecommunications, technology, hospitality, education, real estate, and media sectors, among others. It was a challenging beginning; we started in a remote area, with a Dh200 million bank loan. Today, we manage assets worth over Dh100 billion dispersed across various sectors,” he wrote.
