New President and CEO Takes the Helm at Milaha
- Business & Finance
Qatar Navigation (Milaha) has appointed Abdulrahman Essa Al-Mannai as President & Chief Executive Officer, effective September 13th, 2015.
He will succeed Khalifa Ali Al-Hetmi, who had previously announced his plan to retire.
Al-Mannai previously led the commercial planning and allocation functions at Qatargas. Having spent his career with Qatargas, he has overseen many areas, including the commercial function of UK’s South Hook LNG Terminal, which is Europe’s largest LNG regasification terminal and handles a significant percentage of the UK’s gas requirements.
“Given his robust commercial background, his experience in many of our core sectors, and his record of performance at Qatargas, the Board and I have full confidence in his abilities to continue Milaha’s strong performance and lead our future growth plans,” said Sheikh Ali bin Jassim Al Thani, Milaha’s Chairman.
“I’m extremely humbled and proud to be entrusted with this opportunity by Milaha’s Board of Directors,” said Al-Mannai. “Milaha is an institution in Qatar and an integral part of Qatar’s economy, and I share Milaha’s ambition to continue to expand its horizons in Qatar and abroad.”
The company marked growth across the board in its results for the first year-half delivering a net profit of QAR 651 million (around USD 179 million), a 26% increase in profitability compared to the first half of 2014.
The biggest jump of 41 % recorded was marked in Milaha’s offshore segment, followed by Milaha Maritime & Logistics which posted a revenue growth of 27% and net profit rise of 119%, mainly driven by the group’s port and container shipping businesses.