• IPIC’s current Managing Director and Energy Minister of the United Arab Emirates named as Cepsa’s new Chairman
• His appointment took place at Cepsa’s Board of Directors meeting held this morning in Madrid
Today, our sole shareholder, International Petroleum Investment Company (IPIC), formally appointed H.E. Suhail Al Mazrouei as a member of the Board of Directors of Cepsa, succeeding H.E. Khadem Al Qubaisi, who recently tendered his resignation.
H.E. Al Mazrouei’s appointment as Chairman of the Board took place afterwards at the Company’s Board of Directors meeting held this morning at Cepsa Tower.
As part of the recent restructuring of IPIC’s Board of Directors, H.E. Suhail Al Mazrouei, current Minister of Energy of the United Arab Emirates (UAE), was designated Managing Director of IPIC. He also holds several leadership positions in a number of entities and companies in the UAE and other countries.
After the Board of Directors meeting the new Chairman met with Cepsa´s management, and he commented on the Company´s team of professionals.
“I can see the potential at Cepsa, the experience and the great work that has been done in recent years. I believe you are passionate about the work you do, and I am sure that with your knowledge, and the support of Abu Dhabi and IPIC, that we can lead this Company to further success.”
He also spoke about the future for Cepsa. “I am optimistic. We have taken important steps in our Strategic Plan of expansion and growth, such as the start of our activities in China and Indonesia, and with projects in new markets like North Africa and South America.
Our Chairman also stated that in order to keep advancing “we must select projects carefully, and focus on the areas where we are experts. We have a competitive advantage and we can provide a higher value-added service by being brave and changing our business model. Our aim must be to grow using our strengths.
In this link you can see a video of the first meeting between our new Chairman and Cepsa´s managers.
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