Al Fahim is replaced as Hydra chief executive

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Sulaiman al Fahim, the property tycoon seeking to buy Britain’s Portsmouth Football Club, has been replaced as chief executive of Hydra Properties, a company official said yesterday.

Mr al Fahim will become a member of the company’s board of directors, said Ahmed Khalil, Hydra’s commercial director. Ali bin Sulayem of Hydra’s parent company, Royal Group, will replace him as chief executive.

“Dr Fahim did an amazing job of getting Hydra Properties to where it is in a few years,” he said. “Dr al Fahim has been promoted for all the good work he has done.”