emirates7 - Mubadala Investment Company today announced that Eissa Al Suwaidi, Chief Executive Officer of its portfolio company the Abu Dhabi Investment Council (ADIC), has decided to retire, effective June 2022.

Mohamed Ali Al Dhaheri, currently Deputy CEO of the Council, will succeed Mr. Al Suwaidi as Chief Executive Officer.

Khaldoon Al Mubarak, Managing Director and Group CEO of Mubadala, said: "On behalf of the Mubadala Board of Directors, I would like to thank Eissa for his tenure as CEO of the Council. He has served the Council, and the Mubadala Group, with great distinction. He has had a long and successful career over four decades as one of Abu Dhabi’s most respected investment professionals, and I wish him the best in his retirement."

After serving as an executive at Abu Dhabi Investment Authority (ADIA) for 25 years, Mr. Al Suwaidi joined the Council at its creation in 2007 and became its managing director in 2015. In 2018, the Council became part of Mubadala, with Mr. Al Suwaidi leading the Council as its CEO. He retires after 40 years of service to Abu Dhabi’s major financial institutions.

Mr. Al Dhaheri has served for over two decades as a highly regarded investment executive, first at ADIA and then working with the founding members of the Council in 2007. As Deputy CEO of the Council, he has worked closely with Mr. Al Suwaidi as well as leading the Council’s Accounting and Financial Services Group.