Julphar appoints new chair, board
Shaikh Saqer Humaid Al Qasimi has been appointed as the Chairman of the board
Dubai: Julphar Pharmaceuticals said on Sunday it has appointed new members to its board of directors following its annual general assembly on April 18.
Shaikh Saqer Humaid Al Qasimi has been appointed as the Chairman of the Board, Yousef Ali Mohammad as Vice-Chairman, Abdulaziz Abdulla Salem Al Zaabi, and Khaled Abdulla Yousef Al Abdullah and Razi Adel Ahmed Doulani as board members. They will join the board effective immediately.
“These appointments mark a significant step in our transformative journey. Our board members bring a wealth of diverse experience and a host of relevant skills and expertise that will enhance Julphar’s Board and help guide the company and shape its future,” said Jerome Carle, General Manager of Julphar in a statement.
The company had earlier reported a net loss of Dh153 million on revenues of Dh863 million for 2018, resulting in cost reductions and steps to maximise cash flows.
“We saw a decline in our revenue and profitability due to the headwinds in Saudi Arabia, but we continued to work hard on new product launches and building new alliances, which will have a positive impact on our long-term performance,” said Jerome Carle, General Manager of Julphar had said in a statement on February 15. “In 2019, challenges still lie ahead but we are taking steps to strengthen our financial health as part of a new far-reaching strategy that will see us increasing our effectiveness and efficiency.”