Gulf Navigation elects new chairman

Gulf Navigation announced a number of key appointments during its recent board meeting, including a new chairman and managing director.

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Gulf Navigation announced a number of key appointments during its recent board meeting, including a new chairman and managing director.

Engineer Abdullah Abdulrahman Al Shuraim was elected chairman of the board, Rashed Hamad Al Shamsi was elected vice chairman and Ghazi Abdul Rahim Al Ibrahim was appointed managing director of the company.

“I thank the members of the board for the confi dence they have placed in me to lead the company on its growth path,” said Al Shuraim. “This is an exciting time for our industry and business. I will do my utmost to ensure our growth objectives are not only met, but also exceeded. The company’s shareholders can rest assured that Gulf Navigation Holding will move rapidly towards being one of the most valuable companies in the liquid cargo transportation business.”

Gulf Navigation, which is currently finalising listing procedures for the Dubai Financial market, also appointed Ernst & Young as company auditors during the meeting. Its recently closed IPO, valued at US$250 million, was oversubscribed by 3.5 times.

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