Eshraq Chairman Fahad Al Qassim Steps Down

Fahad Al Qassim, the chairman of Abu Dhabi-listed Eshraq Investments, has stepped down from his position to concentrate on other professional roles, which include his duties as a board member of Dubai-listed logistics company Aramex and chairman of Islamic insurer Salama. Appointed in November 2023, Al Qassim was instrumental in directing Eshraq's new strategic path. Beyond his involvement in Eshraq, Al Qassim holds significant roles such as director general of the Endowments and Minors Funds Authority in Abu Dhabi and a board member of Etihad Water and Electricity. His previous experience includes serving as CEO for healthcare and life sciences at Abu Dhabi's ADQ, a sovereign wealth fund that secured a majority stake in Aramex earlier this year. Recently, Eshraq sought to terminate its management agreement with Goldilocks Fund, tied to its largest shareholder, Dubai-listed Shuaa Capital, due to valuation declines. At the recent general assembly, shareholders decided against discharging its auditors for the fiscal year ending December, with Deloitte having audited the company since the first quarter of 2019. The developments mark significant changes in the company's leadership and strategic operations.