TAQA announces CEO transition as part of strategic growth agenda
Industrialization and Energy Services Company (TAQA), a global leader in energy and industrial services, on Thursday (May 29) announced that Khalid Nouh will step down from his role as Chief Executive Officer, effective May 31, as part of the company's ongoing evolution and long-term strategic growth agenda.
The Board of Directors has appointed Adel Al-Ghadhban as Interim Chief Executive Officer, effective June 1.
Since his appointment in 2019, Nouh has been instrumental in transforming TAQA into a unified global organisation. Under his leadership, the company successfully integrated a series of value-driven acquisitions, including Tendeka (Completions), AZR (Wireline), OPT Chemicals, Cougar Drilling Solutions, Oliden Technologies, and AlMansoori Petroleum Services (AMPS). These integrations positioned TAQA as a fully integrated energy services provider with more than twelve service lines and 5,500 employees across global markets, a company statement said.
During his tenure, TAQA digitised its business operations under a single platform, launched Centers of Excellence in Drilling, Completions, and Intervention, and established TAQA Geothermal, aligning the company with regional energy transition ambitions. Additionally, Nouh played a key role in positioning ARGAS to support mineral exploration initiatives. Under his guidance, the company achieved remarkable revenue growth, driven by strategic execution and operational excellence, it said.
With this solid foundation in place, TAQA is now focused on accelerating its next phase—expanding market presence and driving innovation.
Al-Ghadhban currently serves as Executive Vice President – Ventures & Chief Investment Officer and brings over 30 years of experience in multiple energy sectors including portfolio management and finance across the energy and manufacturing sectors, including 20 years with TAQA. He was responsible for leading the company's group legal, risk, and compliance functions, and guiding strategy for TAQA's portfolio companies. He also serves on the boards of several TAQA subsidiaries, including ARGAS as Vice Chairman, Cougar Drilling Solutions, TAQA Drilling Solutions (Canada), and was in board leadership roles at ALAR and JESCO.
Nouh said: 'It has been an extraordinary journey and a privilege to lead TAQA through a period of remarkable growth and transformation. I am proud of what we've built together — a global platform with strong capabilities and a focus on sustainable, profitable growth. I leave confident in the company's direction and leadership, and excited to see it reach even greater heights.'
Ahmed Al Zahrani, Chairman of the Board, stated: 'On behalf of the Board, I want to thank Khalid Nouh for his exceptional vision and dedication. He played a pivotal role in shaping TAQA into the global leader it is today—delivering on strategy, strengthening our service offering, and transforming the organization into ONE TAQA. As we look to the future, we are confident that Adel Al-Ghadhban will build on this legacy with a sharp focus on performance, innovation, and growth.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
13-06-2025
- Trade Arabia
L&T lands key Middle East grid infrastructure contracts
Indian engineering and construction conglomerate Larsen & Toubro (L&T) has announced that its Power Transmission & Distribution (PT&D) business vertical has secured new grid infrastructure orders in the Middle East as well in the Indian market. In the Middle East, the PT&D business has clinched orders for executing a set of 220kV and 132kV gas insulated substations on a turnkey basis, said L&T in a statement. These orders come from leading transmission asset owners and operators in the respective countries, it stated. In India, L&T has won an order to build 765kV and 400kV transmission line jobs pertaining to the integration of a Renewable Energy Zone in the southern state of Andhra Pradesh. These new orders mark a key milestone for PT&D in its pursuit of delivering future-ready grid infrastructure to help realise the energy transition and sustainable energy goals of its valued customers, it added.-TradeArabia News Service
Daily Tribune
12-06-2025
- Daily Tribune
UAE Universities See Surge in Student Applications Amid US Visa Uncertainty
Universities across the UAE are reporting a notable increase in international student applications, as ongoing delays and uncertainties surrounding student visa processing in the United States push students to seek more accessible alternatives. With growing concerns over restrictive policies and prolonged visa wait times in the US, students and parents are increasingly turning to UAE-based institutions for stability, safety, and streamlined admission processes. Higher education institutions in cities such as Abu Dhabi, Dubai, and Ajman have all noted a significant rise in student interest for the 2025 academic year. The shift is attributed largely to disruptions in the US student visa process and changing international education policies. University leaders say the UAE's strong infrastructure, globally accredited programs, and supportive visa environment make it an increasingly attractive destination for international learners. The ability for students to work part-time, live in some of the world's safest cities, and stay geographically closer to home has added to the country's appeal. The surge in applications is also being driven by a broader trend of students reconsidering long-standing study abroad plans, particularly those targeting American institutions. As the global education landscape continues to evolve, the UAE is positioning itself as a regional hub for world-class higher education, offering international students both academic opportunity and peace of mind.
Trade Arabia
11-06-2025
- Trade Arabia
EDGE, FAB sign strategic deal to build resilient financial ecosystem
EDGE Group, one of the world's leading advanced technology and defence groups, has entered a strategic partnership with First Abu Dhabi Bank (FAB). The agreement covers two major financial initiatives: the implementation of FAB's advanced Supply Chain Finance (SCF) solution and the deployment of its AI-powered Treasury Management System (TMS). EDGE said its deployment of FAB's AI-powered TMS represents the largest to date. The solution delivers real-time cash visibility, advanced forecasting capabilities, and integrated risk management tools, enabling EDGE to automate treasury operations and optimise liquidity across the Group. The platform provides protection for interest rate risk and FX risk, while improving financial agility, investment planning, and funding, it stated. EDGE Managing Director and CEO Hamad Al Marar said: "Our partnership with FAB is a strategic enabler of our global industrial ambitions. It reinforces the financial architecture required to operate at scale, with speed and resilience. In an increasingly competitive and complex environment, this alignment ensures we remain agile, well-capitalised, and positioned for sustained international growth." Group Head of Wholesale Banking Martin Tricaud said: "FAB's partnership with EDGE marks a step forward in building a more resilient supplier ecosystem. We recognise that effective cashflow and supply chain finance are fundamental to sustainable business models. By combining our global expertise with innovative financial solutions, we are enhancing financial agility and enabling long-term value creation." "Through FAB's digital SCF solution, EDGE provides local and international suppliers access to early, low-cost financing, which enhances supplier trust, improves commercial terms, and ensures continuity across critical operations," he added. Group Chief Financial Officer Rodrigo Torres said: "This partnership reflects EDGE's commitment to embedding financial sophistication and innovation at the core of our operations. By integrating FAB's advanced SCF and AI-powered TMS platforms, we are optimising liquidity and supplier performance while also reinforcing our ability to manage risk and scale with confidence." Torres, said to date, over AED1.6 billion in invoices have been processed, unlocking more than AED1.2 billion in off-balance sheet financing.
