Al Yah Satellite Communications Company (Yahsat) has announced the appointment of three new members to the firm’s Board of Directors. Musabbeh Al Kaabi, CEO of the UAE Investments platform at Mubadala Investment Company PJSC (Mubadala), will assume the position of Chairman of the Board, and Badr Al Olama, Executive Director of the UAE Clusters unit within Mubadala’s UAE Investments platform, will join as a Board member.
Masood Sharif Mahmood will also join the Board of Directors, stepping down from his current role as CEO of Yahsat Group effective from April 18, after nearly 9 years in the role. Ali Al Hashemi, the current CEO of Thuraya Telecommunications Company and the General Manager of Yahsat Government Solutions, will take over as the new Chief Executive Officer of Yahsat Group from 18th April, 2021.
Commenting on the announcement, Musabbeh Al Kaabi said, “Today’s change is testament to Yahsat’s dedication to strengthen the company’s position as a robust market leader and globally recognized ICT champion and its effective succession planning to build talent suitably placed to drive the future growth of the company.”
Through his role in Mubadala, Musabbeh Al Kaabi oversees the portfolio that supports the UAE’s continued acceleration and transformation by investing in national champions, fostering vibrant industrial and commercial clusters, and partnering with world-class global entities. Musabbeh is also a member of Mubadala’s Investment Committee, playing a strategic role advising on all major investment decisions related to all of Mubadala’s sectors and businesses.
Badr Al Olama’s addition to the Board brings a wealth of expertise through his capacity as an Executive Director of the UAE Clusters unit within UAE Investments Platform in Mubadala, overseeing a diverse portfolio of assets in multiple sectors including technology, aerospace and healthcare, as well as incubating new sectors to further diversify the UAE’s economy such as clean energy and life sciences.
Masood Sharif Mahmood’s appointment to the Board will ensure that the Group will continue to benefit from his extensive experience and longstanding leadership in the satellite industry and his role as a senior stakeholder in several UAE and international entities. Through this role, Masood will work closely with the management team to ensure a seamless transition and to support the Group in furthering its strategic objectives as it embarks on the next stage of growth and development.
Ali Al Hashemi’s appointment as the new CEO of the Yahsat Group is a direct result of Yahsat’s deep long-term succession planning initiatives and will ensure that the company maintains its momentum on the strategic vision and objectives that have been at the heart of Yahsat’s transformational journey, making it one of the top eight operators in the world in just ten years of operation.