Dubai's Al Habtoor tackles succession issue - The National

"I will remain chairman... I will never stand down," says Khalaf al Habtoor, chairman of the Al Habtoor Group.
Satish Kumar / The National

Al Habtoor Group, the Dubai-based hotels-to-automobiles conglomerate, is to put in place a family trust arrangement aimed at smoothing succession at the 40-year-old company.

Khalaf Al Habtoor, the chairman and founder of the group, told The National that the trust scheme was currently being considered, on the advice of the international accounting group PwC and the Dubai law firm Habib Al Mulla.

Last month, the company surprised UAE markets when it postponed plans for a US$1.6 billion (Dh5.87bn) initial public offering for shares in the group on a number of global stock exchanges.
Dubai's Al Habtoor tackles succession issue - The National