Omar Quqa resigns, “Global needed me the most in this current critical stage”

Omar Quqa’s resignation on Sunday, June 28, 2009 from Global Investment House after 10 years of service.

Dear Globals,

After 11 years from establishing and working in Global, today I have submitted my resignation.

While I was not in agreement with the need for the recent change in the organizational structure announced in March, I have accepted to be the Advisor considering the critical time Global is passing through and based on the promise that I will be involved in strategic decisions and in the many committees that will be formed. This, however, has not happened.

I have tried my best numerously to be active and cooperative in providing advice and guidance to the management and members of the different committees, despite continuous efforts to exclude me, and all of that because of my belief that Global needed me the most in this current critical stage.

Now, and given the imminent signing of the rescheduling agreement with lenders, I have decided to submit my resignation, as attached. I’m sorry for not writing it in English as I felt writing it in Arabic would give me better flexibility in explaining my feelings.

Global is a great place and will continue to be the leader in the industry; you have raised the bar for this industry and are a source of pride for the whole region.

During the last 11 years at Global, I have learned a lot with and from all my colleagues, and especially Mrs. Maha Who I have worked with for the last 28 years.

I wish all of you all the best,