Qatar's Hassad appoints new CEO to drive growth

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(Photo for illustrative purposes only)

(Photo for illustrative purposes only)

Hassad Food Co, the agricultural investment arm of Qatar’s sovereign wealth fund, said on Sunday it has appointed a new CEO.

Fahad Abdulla Turki Al-Subaiey will be based in the company's headquarters in Doha and will report directly to Nasser Al Hajri, the chairman of the Hassad Food Company.

Al-Subaiey has now the overall global responsibility for the company's growth strategy, investment plans and operations, a statement said.

Chairman Nasser Al Hajri said: "We are excited to have Fahad Al-Subaiey on board with us and I am confident that with his strong background and leadership experience he will be able to drive the company towards achieving its vision in becoming a leading global provider of high quality food products."

Prior to joining Hassad Food, Al-Subaiey held  a number of senior international roles and his last assignment was as executive director - Gas & Power at Qatar Petroleum International.

He said: "I am glad and very excited to take part in leading Hassad Food 's mission and journey in owning, developing and operating efficient, profitable, and growth-orientated global business brands that contribute to the welfare of Qatar."

Last month, Hassad Food bought a majority stake in an Indian basmati rice company for more than $100m, according to reports.

Hassad Food bought the stake in Bush Foods Overseas Ltd which sells basmati rice under the ‘Neesa’ brand.

Hassad Food said last year it may invest 500m euros ($625m) to increase food supplies for the desert emirate.

Qatar imports 90 percent of its food and established Hassad to secure supplies. The company announced plans to buy Turkish farmland in 2011.

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