ABU DHABI, UAE: Eshraq Investments PJSC (Eshraq), a leading investment company in the UAE, announced today the appointment of Mohamed Al Hashimi as its new chief executive officer.
Al Hashimi will lead the company in its new phase of expansion and development, following a strong turnaround in performance and profitability.
Al Hashimi joins Eshraq Investments with more than 20 years of experience in financial strategy and performance, having served as the chief financial officer (CFO) of ADNOC LNG, a subsidiary of Abu Dhabi National Oil Company (ADNOC).
Prior to that, he was the CFO and COO of ADNOC Distribution, where he was closely involved with the company’s IPO and subsequent investor engagement. Al Hashimi holds a bachelor’s degree from Ohio State University and a postgraduate degree with a focus on business administration and finance from Harvard University.
The appointment comes after Eshraq reported its Q2 financial results, which showed a remarkable surge in total operating income and net profit. Eshraq posted AED 35.99 million profit in the second quarter of this year, compared to a loss of AED 0.32 million in the same period last year. Total operating income increased by 2,446.7% to reach AED 44.31 million, from a loss of AED 1.89 million in Q2 2022. The company attributed the improved performance to its diversified portfolio of investments, which include real estate, hospitality, healthcare, and financial services. The company also continued to progress its land monetization and share buyback programs, while delivering solid returns for its shareholders.
Jassim Alseddiqi, Chairman of Eshraq Investments, said: “We are pleased to welcome Mohamed Al Hashimi, a critical hire to steer Eshraq in its next phase of growth and expansion. Given his strong track record of investor engagement strategy, Al Hashimi is a strong asset in our ambitious aspirations of becoming the market leader in high-quality, profitable investments. I look forward to working with him to deliver excellence and supporting the innovation and advancement we have planned for the next upcoming years.”
Mohamed Al Hashimi, CEO of Eshraq Investments, said: “I am honored to be at the helm of a company that is committed to delivering innovative opportunities and accretive returns to its investors. I look forward to working closely with the Chairman and Board as we shape Eshraq’s growth trajectory. Following a consistent approach to diversification, the company is poised to leverage lucrative opportunities in the buoyant regional economy, and I am confident that we will continue to deliver for our shareholders.”
Leave a Reply