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Abu Dhabi sovereign investor Mubadala Investment Company said Musabbeh Al Kaabi will take over as executive director of Abu Dhabi National Oil Company’s (Adnoc) new low carbon solutions and international growth vertical. Al Kaabi is currently the CEO of UAE Investment Platform. The transition will take place on January 16, 2023.
Al Kaabi’s move comes after Adnoc announced its strategy to support the UAE’s ‘Zero Emissions by 2050’ strategic initiative. The new Low Carbon Solutions and International Growth vertical will focus on new energy and low carbon solutions, as well as international growth in gas, liquefied natural gas (LNG) and chemicals.
The entity will focus on new energy and low-carbon solutions, including the company’s renewable energy and hydrogen portfolio and its position as a pioneer in carbon capture and storage, as well as international growth in natural gas, liquefied natural gas (LNG) and chemicals.
leadership
Khaldoon Khalifa Al Mubarak, Managing Director and Group Chief Executive Officer, Mubadala, said: “Musabbeh’s leadership in the UAE and international energy industry, coupled with his decades of experience delivering investments and partnerships to drive the country’s economic priorities, enables him to In this senior leadership role.At Adnock.
“We at Mubadala are grateful to Musabbeh for his leadership over the past decade. He joins the ranks of many distinguished Mubadala alumni serving the UAE in a new and important capacity.”
Since 2002, Mubadala has trained a generation of leaders who have gone on to hold key positions across the UAE. Mubadala alumni include UAE Federal Ministers, CEOs of major UAE institutions, global business leaders and members of the Federal National Council (FNC).
Investment decision
At Mubadala, Al Kaabi serves as a member of Mubadala’s Investment Committee and plays a strategic role in advising on all major investment decisions related to all divisions and businesses of the company.
Since 2021, he is also leading the UAE Investment Platform, whose mission is to support and accelerate the economic transformation of the UAE, creating an industrial and commercial economic cluster. The platform’s portfolio includes global partnerships and UAE energy, metals, aerospace, technology, healthcare, real estate and infrastructure assets.
Prior to his role at UAE Investment Platform, Al Kaabi served as CEO of the Oil and Petrochemical Platform from 2017 to 2020. He is responsible for Mubadala’s $40 billion integrated international energy portfolio, with more than a dozen portfolio companies operating across the value chain.
management role
Al Kaabi began his career at Adnoc, where he worked for 16 years, during which time he held a series of increasingly senior technical and management roles, rising to lead Adnoc’s exploration division.
With Al Kaabi’s new appointment at Adnoc, Mubadala Deputy CEO Waleed Al Mokarrab Al Muhairi will serve as interim CEO of the UAE investment platform. — trade arab news agency
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