Eissa Al Suwaidi joined the Council at its creation in 2007. Image Credit: Supplied

Dubai: Eissa Al Suwaidi, CEO of Mubadala’s portfolio company - Abu Dhabi Investment Council (ADIC) - will step down in June.

Mohamed Al Dhaheri, currently Deputy CEO of the Council, will take the top role.

After serving as an executive at Abu Dhabi Investment Authority (ADIA) for 25 years, Al Suwaidi joined the Council at its creation in 2007 and became managing director in 2015. In 2018, the Council became part of Mubadala, with Al Suwaidi leading the Council as CEO. He retires after 40 years of service in Abu Dhabi’s major financial institutions.

Mohamed Al Dhaheri had been the Deputy CEO of the Council. Image Credit: Supplied

Incoming CEO Al Dhaheri has served for over two decades as a highly regarded investment executive, first at ADIA and then working with the founding members of the Council in 2007. He has worked closely with Al Suwaidi as well as leading the Council’s Accounting and Financial Services Group.

Khaldoon Al Mubarak, Managing Director and Group CEO of Mubadala, said: “On behalf of the Mubadala Board of Directors, I would like to thank Eissa for his tenure as CEO of the Council. He has served the Council, and the Mubadala Group, with great distinction.”