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Dubai World’s Al Saleh to replace Buamim

Dubai World’s Al Saleh to replace Buamim

The new chairman of Drydocks World and Maritime World is to be Abdulrahman Al Saleh, a member of Dubai World’s board since December 2010, official channels in the parent company have told Seatrade Global.

A spokesman for Dubai World also confirmed the resignation of Khamis Buamim as chairman of the Dubai company, as was exclusively reported by Seatrade Global on Tuesday.

Al Saleh is a safe pair of hands who has served in several government positions, including Dubai Customs, giving him the necessary background to tackle another company in Dubai’s maritime sector.

This could be a stopgap appointment as Drydocks World struggles to find a new leader as dynamic and visionary as Buamim, who saved the company from near collapse in 2010, after it took on $2bn of debt to fund the acquisition of ship repair yards in Singapore and Indonesia.

It is not clear whether Al Saleh will serve solely in his new position, as, like several other senior government officials, he could remain in a number of posts simultaneously.

It is likely that Al Saleh’s status as a financial specialist is coincidental, as the real challenge facing Drydocks World today is driving forward a huge programme of multi-faceted work.

In addition to a growing inventory of jack-up repairs, Drydocks World’s brimming orderbook includes work on the Borwin 3 wind platform, FLNG modules, an offshore platform for Dubai and repairs to several vessels.

Al Saleh’s biography on Dubai World’s website gives details about his background. He is the Director General of the Department Of Finance, Government of Dubai, and also the Chairman of the Board of Directors of Dubai Financial Support Fund.

Before joining Department of Finance, Al Saleh was Senior Executive Director for Corporate Affairs in Dubai Customs for four years.

Al Saleh is also said to be a member of Supreme Fiscal Committee and also a Board Member of Gulf Navigation Holding PJSC and the Chairman of Taleem PJSC.

“His vast experience as a policy maker includes participation in various organisational and strategic committees, including the Executive Credit Policy Committee and Task Force for Indirect Taxation,” his official biography says.

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