Thursday, 4 August 2011 at 18:34, Reuters, Abu Dhabi
Mubadala has stakes in Advanced Micro Devices, General Electric and private equity firm Carlyle. (VARUNA/ALRROYA)
Abu Dhabi's ruler reshuffled the board of government-owned investment vehicle Mubadala, replacing two of its members, state news agency WAM said on Thursday.
Sheikh Khalifa bin Zayed al-Nahayan, who is also UAE president, made the changes in a decree.
The new board adds Mahmoud Ibrahim al-Mahmoud and Abdul Hamid Mohammed Saeed who replace Ahmed Ali al-Sayegh and Mohamed Saif al-Mazrouei.
Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed al-Nahayan remains Mubadala chairman and Mohammed al-Bowardi is deputy chairman. The rest of the board is unchanged with Hamad al-Hurr al-Suweidi, Nasser Ahmed al-Suweidi and Khaldoun Khalifa al-Mubarak who is also managing director of Mubadala.
The unlisted investment group, which holds stakes in Advanced Micro Devices Inc, General Electric and private equity firm Carlyle, had assets totaling Dh101.5 billion ($27.6bn) in 2010.
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