Abu Dhabi’s national energy company TAQA has elected a new board of directors following the end of the previous board’s three-year term.
TAQA said on Wednesday that the previous board of directors had overseen the completion of a two-year transformation program, delivering cumulative savings of AED 13.2 billion ($3.6 billion) and a capital expenditure reduction of AED 8.6 billion ($2.34 billion) from 2014 to 2016.
At the Annual General Meeting held in Abu Dhabi on Wednesday, the shareholders chose a new seven-member board, including four from the previous board line-up and three new board members, for a term of three years.
Saeed Mubarak Al Hajeri, a member of TAQA’s board since 2011, was re-elected as the chairman of the board, while the vice-chairman is a newcomer to the board, Khalifa Ali Al Qemzi.
Elected members who previously served on the TAQA board are Abdulaziz Abdulrahman Al Hemaidi and Salem Sultan Al-Dhaheri, both with the company’s board since 2011, as well as Khaled Abdulla Al Mass, with the board since 2014.
Two other new additions to the board are Mohammed Abdulla Al Suwaidi and Saif Saleh Al Sayari.
Al Hajeri, TAQA’s chairman of the board, said: “I am honored to serve as chairman of TAQA for another term. I would like to thank the outgoing board members who have served TAQA and its shareholders during a significant period of transition and welcome the three new board members who will continue their efforts to deliver an ongoing contribution to Abu Dhabi.”