Kuwait Stock Exchange appoints new chairman
RIYADH: The Kuwait Stock Exchange has selected a new chairman for its board of directors, following the appointment of its previous chairman as oil minister in December, it said in a statement yesterday. The bourse named as chairman Mohammed Ahmed Al-Saqqaf, a member of the board’s executive committee and nomination and remuneration committee. HH the Amir appointed previous chairman Essam Abdul Mohsen Al-Marzouq to head the oil ministry and the ministry of electricity and water.
KUWAIT: Boursa Kuwait announced that Mohammed Ahmed AlSaqqaf was selected uncontested to assume the role of Boursa Kuwait’s Chairman of the Board of Directors. AlSaqqaf succeeds Essam Abdul Mohsen AlMarzouq who occupied the Chairmanship role from April 2016 until his official resignation from the Board following his appointment to a Ministerial office.
Khaled Abdulrazak AlKhaled, Chief Executive Officer and Vice Chairman of Boursa Kuwait highly congratulated AlSaqqaf and welcomed him as the new Chairman of Boursa Kuwait Board. Alkhaled also stressed the importance of the role that AlSaqqaf has been playing since the critical stages of the start of Boursa Kuwait.
AlSaqqaf expressed his gratitude to the Members of the Board, thanking them for their trust and confidence. He also acknowledged the great effort and work that have been invested by Boursa Kuwait management teams, and the continuous significant support of the CMA.
Additionally, AlSaqqaf affirmed that the company will continue to implement its set strategy to develop a competitive leading regional stock exchange for the State of Kuwait, one which incorporates international level processes and standards that can position BKSC to effectively and positively contribute not only to the national economy in particular, but also the regional one as well.
It is worth noting that AlSaqqaf’s core competencies are in corporate strategies and leadership supported by over 25 years’ experience in international and regional investments. He was the Chairman of Boursa Kuwait Board Nomination and Remuneration Committee and a member of the Board Executive Committee.
AlSaqqaf has extensive experience in real estate developments, Funds’ establshment, developing local capital market’s products, managing change management initiatives, and the applications of corporate governance and best practices. Furthermore, Alsaqqaf has strong background and experience in risk management and leading senior corporate management teams. He has served in many boards and committees in the business disciplines of Hospitality, Architecture & Design, Real Estate, and Investments.
Alsaqqaf has held many senior positions since 1997 including the CEO position of several investment and real estate companies. AlSaqqaf holds a Bachelor of Science Degree in Industrial & Systems Engineering from the University of Southern California (USC) and Business Leadership and Advanced Management Concepts as part of his EMBA program with the renowned International Institute of Management Development (IMD) in Lausanne, Switzerland.