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.”