Dubai: Al Masaood Group announced the appointment of partner Masaood Ahmad Al Masaood as its new chairman, folliwng the retirement of long-time chairman and co-founder Abdullah Al Masaood.

The Abu Dhabi-based firm said in a statement that the appointment of the new Chairman is part of structural and strategic changes to enable a new operating model, and further announcements will be made in the near future on a new board and other entities.

Masaood Ahmad Al Masaood said, “Under my predecessor’s able and hands-on leadership Al Masaood has grown both in strength and diversity and now sits in an enviable place as regards deciding its future direction and reaching its full potential. We have a wide range of options to consider and a number of very strong partnerships which will underpin our future growth. This is a key moment in our journey.”