Board Reshuffle at National Central Cooling Company PJSC: A New Dawn or a Slippery Slope?
In the wake of a recent board reshuffle at National Central Cooling Company PJSC, also known as Tabreed, we delve into the potential implications for the company's future.
Summary
Following the resignation of board member Claire Bechaux and the appointment of Marion Deridder Blondel in her stead, the future of Tabreed seems uncertain. Despite its strong position in the GCC, the company's recent yield performance raises questions.
Source
Summary
On 9th February 2024, a circular resolution was passed by the Board of Directors of the National Central Cooling Company PJSC (“Tabreed”), as per Article 36 of the Disclosure and Transparency Regulations Number 3 for the Year 2000 (as amended). The resolution approved the resignation of Claire Bechaux as a Board member and the appointment of Marion Deridder Blondel as her replacement. The communication was issued by Sean Magee, the Company Secretary, and sent to Dr. Maryam Butti Al Suwaidi, CEO of Securities & Commodities Authority, Abu Dhabi, UAE, and Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, Dubai, UAE.