2 executives join Man Group board
 
DUBAI: Man Group PLC (Man) has announced the appointment of Emmanuel Roman, chief operating officer, as an executive director and Matthew Lester as a non-executive director with immediate effect. Roman joined Man as chief operating officer in October 2010, following the completion of the acquisition of GLG Partners. In this group-wide position, he has played a leading role in the integration of GLG and is responsible for product development and operations at the combined business. He joined GLG in 2005 as co-chief executive officer after 18 years with Goldman Sachs. Lester is chief finance officer of the Royal Mail Group. He was group finance director of ICAP from 2006 to 2010 and prior to that held a range of senior finance roles at Diageo. Jon Aisbitt, chairman of Man, said: "I am delighted to welcome Manny Roman and Matthew Lester to the board. Manny's appointment brings us a wealth of trading, operational and business management experience as well as providing a key link between sales, investment management and operations across the Group. Matthew brings to Man substantial relevant experience both from within and outside our sector which will further strengthen the board's financial management and regulatory expertise."
 
Tabreed names new chairman
 
ABU DHABI: UAE district cooling firm Tabreed on Thursday appointed the chief operating officer of Abu Dhabi-owned fund Mubadala as its new chairman in a board reshuffle which follows a debt restructuring. Tabreed said Mubadala's Waleed Al-Mokarrab Al-Muhairi will be the new chairman, replacing Khadem Al-Qubaisi who is stepping down from the board. Khaled al Qubaisi has been re-appointed as managing director while three other board members, including Chief Executive Sujit Parhar has stepped down from the board. Parhar will continue to be the CEO for Tabreed. Dubai-listed Tabreed, formally called National Cooling Company, is among several Gulf companies which has to restructure its debt after an economic boom, fueled by record-high oil prices and easy credit, ended abruptly and caused a property market crash. In February, Tabreed secured a deal with creditors to refinance 2.63 billion dirhams in debt. Investment vehicle Mubadala injected additional funds to aid the restructuring.
 
— Compiled by Arab News