Tabreed, the UAE cooling giant, has named Khalid Al Marzouqi as its new CEO, replacing Bader Al Lamki who was appointed CEO in April 2019.
Mr Al Marzouqi joins Tabreed from Dolphin Energy Limited, where he was Chief Operating Officer – Downstream, responsible for overseeing the entire Operations Downstream Division in the UAE.
Prior to this he was Senior Vice President of Dolphin’s Technical Services Division and Al Marzouqi has occupied senior roles at the Abu Dhabi Department of Transport, Abu Dhabi Water and Electricity Authority (ADWEA) and ADCO. He has more than 25 years of experience in the energy industry and holds two majors in Chemical Engineering and Petroleum Engineering.
Khaled Al Qubaisi, Chairman of Tabreed, said of the appointment: “Khalid Al Marzouqi joins Tabreed at the beginning of an exciting new chapter for the company and brings with him a wealth of experience in the energy sector, where he has worked at the most senior levels.
“With the recent launch of Tabreed’s all-new corporate identity still fresh in our minds, the scene is set for this remarkable and progressive business to deliver on its ambitious plans, and I know Khalid’s considerable expertise will help drive us towards achieving ever more impressive results.”
Tabreed, which is listed on the Dubai Financial Market, now delivers more than 1.4 million refrigeration tons to major residential, commercial, government and private projects.
Tabreed owns and operates 86 plants in its portfolio across the GCC, including 73 plants in the United Arab Emirates, three in the Kingdom of Saudi Arabia, five in Oman, one in the Kingdom of Bahrain and others in the region.
Tabreed, formally National Central Cooling Company PJSC, reported a net profit of AED85.5m ($23.3m) for the first quarter of the year, a 4 percent increase on the opening three months of 2021 (AED82.2m – $22.4m), driven by service quality and taking advantage of growth opportunities. Group revenue increased by 21 percent to AED357.6m ($97.4m), up significantly from the AED294.4m ($80.2m) announced in Q1 2020.
Bader Al Lamki who was appointed CEO in April 2019
Khaled Al Qubaisi commented: “The board sincerely thanks Bader Al Lamki for his steadfast belief in this company and his unwavering commitment meant that his time here was impactful for all the right reasons. Tabreed is bigger and more profitable than ever delivering a 24 percent increase in consolidated connected capacity, ensuring a 20 percent increase in revenues and playing a pivotal role in the acquisition of the Downtown District Cooling concession from Emaar; it being the largest DC M&A transaction in history.
“He also launched initiatives under his direction to overturn the status quo with regards to workplace diversity and corporate social responsibility. We are now a more modern, more dynamic and more inclusive organisation and, on behalf of the board and personally, I thank him for his innumerable contributions and wish him well for the future.”
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