Shareholders of TAQA, the international energy and water company from Abu Dhabi, have elected a new Board of Directors at the company’s Annual General Meeting (AGM) after the expiry of the previous board’s three-year term.
H.E. Saeed Mubarak Al-Hajeri; H.E. Abdulaziz Abdulrahman Mubarak Al-Hemaidi and H.E. Salem Sultan Al-Dhaheri were re-elected to a new three-year term. H.E. Mohammed Butti Khalfan Al Qubaisi; H.E. Khaled Abdulla Al Mas; Mr Ahmed Khalifa Mohammed Obaid Al Mehairi; and H.E. Mohammed Abdulrahman Bandooq Mohammed Al Qamzi were also elected to serve on TAQA’s Board of Directors. Following the AGM, the Directors elected H.E. Saeed Mubarak Al-Hajeri as Chairman of the Board of Directors.
H.E. Saeed Mubarak Al-Hajeri, who has served on the Board since 2011, is Executive Director at Abu Dhabi Investment Authority (ADIA) and is also on the boards of various Abu Dhabi government entities. He holds a Bachelor of Business Administration from Lewis & Clark College in the United States and is a qualified Chartered Financial Analyst.
“It is a great privilege and honour to be elected Chairman of Abu Dhabi’s leading international energy and water operating company,” said H.E. Saeed Mubarak Al-Hajeri. “The new Board brings a wealth of skills and experience relevant to TAQA’s core areas of operation. I look forward to working with my fellow Members of the Board and the executive management to build on TAQA’s achievements.”
“I would like to thank H.H. Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, Ruler of Abu Dhabi and Commander-in-Chief of the UAE Armed Forces, and H.H. Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for the opportunity to contribute to the company’s development. I would also like to thank the previous board members for their dedication and service to TAQA.”
From its roots as the majority owner of Abu Dhabi’s power and water generation plants, TAQA has grown into Abu Dhabi’s leading international energy and water operating company, with a presence in 11 countries.
The company is also meeting fixed-income investors in Asia, Europe, and the US to gauge demand for a potential benchmark-sized bond, according to a bank arranging the meetings. Taqa, with over $33 billion (Dh121 billion) of assets globally, will meet investors starting this week, a document Wednesday from the arranging bank showed. A benchmark US dollar transaction under Taqa’s global medium-term note programme may follow subject to market conditions, it said. Bank of America Merrill Lynch, Mitsubishi UFJ Securities, SG CIB, Standard Chartered Bank and The Royal Bank of Scotland are arranging meetings for Taqa.
