Dubai conglomerate Al Habtoor Group said it will be conducting a major shakeup across its boards. The Gulf-based firm's management changes was said to be part of its overall plans to improve company growth.
Al Habtoor's shakeup will include changes in all unit boards, which includes hotels, motors, real estate, schools, and car rental unit. The shakeup will also affect the legal and audit boards of the Group.
A statement from the Dubai conglomerate read that the changes, endorsed by its chairman Khalaf Ahmad Al Habtoor, will be implemented January 1.
Al Habtoor said, "This reshuffle is essential to ensure we are ready to for what the future holds. We need to prepare our units for the opportunities ahead following Dubai's success to host the Expo 2020. "I want to ensure we have renewed energy throughout the Al Habtoor Group units and make sure we have the correct strategy in place."
The management changes will also impact Habtoor Hotels, Al Habtoor Motors, Diamondlease, Emirates International Schools, Real Estate and Legal & Audit Boards, according to the statement released by the company.
"As our motto states, we are growing with the UAE, and the Emirates is experiencing unprecedented growth. We want to capitalize on this and make sure we have the right people in place to enable us to continue growing with the UAE," Al Habtoor added.
Earlier this month, the Group said it was interested in pursuing projects around Expo 2020. Chief Executive Officer Mohammed Al Habtoor was quoted by Arabian Business, who said that it will be looking at potential development deals.
The Group is known for its construction, but is also globally recognized for its involvement in sectors mainly hotel, automotive, real estate, education, insurance and publishing, according to its profile on the company website. Construction division the Habtoor Leighton Group had been delivering projects of large-scale proportions across the Gulf region and had built a strong and loyal client base in both private and public sectors for over 40 years, said the company.
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