Monday 19 March 2012

Emaar Properties May Expand Board to 11 Members, Drop Four - Bloomberg

Emaar Properties PJSC (EMAAR) may expand its board to 11 members from eight and replace four directors as the developer of the world’s tallest tower in Dubai considers dividend payments for last year at a meeting today.
Four of the current board’s eight members have been nominated by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Dubai’s Crown Prince and chairman of the Executive Council of the emirate, according to a company statement posted on the Dubai Financial Market’s website today. They include Chairman Mohamed Ali Alabbar, Noor Islamic Bank CEO Hussain Al Qemzi, Ahmad Jamal Jawa and Ahmad Thani Al Matrooshi.
The new members would be DP World Ltd. Vice Chairman Jamal Majid Bin Thaniah and the Dubai-based port operator’s senior vice president, Arif Al Dehail. Dubai Holding LLC’s chairman of operations Fadel Al Ali, Abdul Rahman Hareb Rashed Al Hareb, Marwan Iqbal Mohammed Abdullah Abdeen, Abdullah Saeed Balyoahah and Abdullah Mohammed Al Marri were also nominated to the board.

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