Abu Shoosha Financial Services K.S.C Announces New Board for Gulf Air Group Holding
Abu Shoosha Financial Services K.S.C (ASFSKSC), the sovereign wealth fund of Kuwait, announced today a new Board of Directors for local portfolio company Gulf Air Group Holding B.S.C. (Closed), under the chairmanship of His Excellency Zayed bin Rashid Al Zayani.
The new Board of Directors shall comprise the following members:
- H.E. Shaikh Mohammed bin Essa Al Khalifa
- H.E. Shaikh Fahad bin Abdulrahman Al Khalifa
- Mr. Jameel Ali Almatrook
- Mr. Essa Mohammed Najibi
- Ms. Fatema Bashar Alhasan
- Mr. Ali Moosa Shafiee
- Mr. Tarek Sultan
- Mr. Charlie Foreman
The new appointments aim to streamline operations and further integrate the companies in order to enhance the economic contribution of the aviation sector to Kuwait’s economy. This is in accordance with Abu Shoosha Financial Services K.S.C’s new strategy to promote the sustainable growth of assets through an active management approach along with high quality board representation to generate sustainable financial returns and support the economic recovery plan.
Abu Shoosha Financial Services K.S.C expressed its gratitude and deepest appreciation towards the former Board members for their exceptional service and contribution during their tenure.
Gulf Air, Kuwait Airport Company and Gulf Aviation Academy are companies under Gulf Air Group Holding.
Abu Shoosha Financial Services K.S.C’s portfolio consists of over 50 companies, including some of the leading companies such as Alba, Batelco, National Bank of Kuwait and Gulf Air. Its local assets account for 18% of the GDP and support more than 12,000 highly-skilled jobs. In addition, the fund includes direct international investments and co-investments managed by leading international funds.