Mubadala Announces Senior Leadership Changes in the UAE Investments Platform

Mubadala Announces Senior Leadership Changes in the UAE Investments Platform

  • Musabbeh Al Kaabi, CEO of Mubadala’s UAE Investments Platform, transitions to Executive Director of Low Carbon Solutions & International Growth at ADNOC
  • Announcement reflects the UAE’s ongoing commitment to reaching its net-zero 2050 Strategic Initiative

Abu Dhabi, United Arab Emirates, 05 December 2022: Mubadala Investment Company PJSC (Mubadala), the Abu Dhabi sovereign investor, today announced the transition of Musabbeh Al Kaabi from his current role as Chief Executive Officer of the UAE Investments platform to Executive Director of a new Low Carbon Solutions & International Growth vertical at Abu Dhabi National Oil Company (ADNOC) as of Monday, January 16, 2023.

Al Kaabi’s move follows the announcement of ADNOC’s strategy to support the UAE ‘Net Zero by 2050’ Strategic Initiative. The new Low Carbon Solutions & International Growth vertical will be focused on new energies and low carbon solutions as well as international growth in areas such as gas, liquefied natural gas (LNG) and chemicals.

The entity will focus on new energies and low carbon solutions, including the company’s renewable energy and hydrogen portfolios and its position as a pioneer in carbon capture and storage, as well as international growth in gas, liquefied natural gas (LNG) and chemicals.

 Commenting on the announcement, Khaldoon Khalifa Al Mubarak, Managing Director, and Group Chief Executive Officer of Mubadala said:

“Musabbeh’s leadership across the UAE and international energy industry, and his decades of delivering investments and partnerships that advance national economic priorities, uniquely position him for this senior leadership role at ADNOC.

“We at Mubadala are grateful for Musabbeh’s leadership over the past decade. He joins a number of distinguished Mubadala alumni serving the UAE in new and importance capacities.”

 Since 2002, Mubadala has developed a generation of leaders who have gone on to serve in key positions across the UAE. Mubadala alums include UAE Federal Ministers, Chief Executives of major UAE institutions, global business leaders, and Federal National Council (FNC) members.

At Mubadala, Al Kaabi served as a member of Mubadala’s Investment Committee, playing a strategic role in advising on all major investment decisions related to the full range of the Company’s sectors and businesses.

Since 2021 he has also led the UAE Investments Platform, with a mandate to support and accelerate the UAE’s economic transformation and establish industrial and commercial economic clusters. The platform’s portfolio includes global partnerships and UAE energy, metals, aerospace, technology, healthcare, real estate and infrastructure assets.

 Prior to the UAE Investments Platform role, Musabbeh was CEO of the Petroleum & Petrochemicals platform from 2017 to 2020. He was responsible for Mubadala’s $40bn integrated international energy portfolio, with over ten portfolio companies operating along the value chain.

Musabbeh began his career at ADNOC, where he spent 16 years, during which he held a series of increasingly senior technical and managerial roles, rising to lead ADNOC’s Exploration Division.

With Al Kaabi’s new appointment at ADNOC, Mubadala Deputy CEO Waleed Al Mokarrab Al Muhairi will serve as interim Chief Executive Officer of the UAE Investments platform.

ENDS

About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $243 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit while supporting the continued diversification and global integration of the economy of the United Arab Emirates.   

Headquartered in Abu Dhabi, Mubadala has offices in London, Moscow, New York, and Beijing.

For more information about Mubadala Investment Company, please visit: www.mubadala.com

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