Dubai: DXB Entertainments’ CEO Mohammed Almulla has stepped down, and Remi Ishak has been named as interim replacement. Ishak is the theme park operator’s chief financial officer.
The company is currently fielding a privatisation bid from its biggest shareholder, Meraas, The move will see the re-capitalisation of DXB Entertainments and its eventual de-listing from Dubai Financial Market.
The theme parks business was severely restricted by the onset of the pandemic, and has since re-opened in phases.
Steady hand at helm
During his tenure, Almulla “oversaw the implementation of the company’s enhancement plans and completion of its hotel strategy,” it said in a statement. These enabled the business to “broaden its demographic and drive international visitation.”
As for Ishak, his focus will be the “smooth continued operations of the company while the Board of Directors continues its search for a permanent CEO”.
An external advisor will look at the Meraas offer and submit its recommendations. If all approvals are in place, that will kickstart the process for the switch to full ownership by the Dubai government entity.