Sultan Bin Sulayem appoints Khaled Al Kamda as first Vice Chairman of Istithmar

Al Kamda will serve as a full-time Vice Chairman and report directly to the Chairman of Dubai World and Istithmar, Sultan Ahmed Bin Sulayem. In this capacity, Al Kamda will work alongside Istithmar Chief Executive Officer David Jackson to develop and implement Istithmar's strategy, to ensure synergies with the rest of the Dubai World group are maximised and to facilitate Istithmar's sustained growth and development.

His Excellency Sultan Ahmed Bin Sulayem said, "Istithmar has been an incredible success to date and Khaled's appointment underlines our commitment to further developing the business. With his unrivalled track record of cross- sector and investment experience, Khaled will further enhance Istithmar's ability to continue its growth trajectory."

Al Kamda said, "I look forward to being actively involved in this innovative and dynamic enterprise and working with the highly qualified team to help shape the future of the company."

Al Kamda joins Istithmar from Emirates Airlines where he had served for over 20 years in senior management positions, most recently as Senior Vice President for Corporate Development, with responsibilities including the management of overseas investments, acquisitions, mergers and joint venture projects.

Following his MBA at Cranfield School of Management in England, Al Kamda commenced his career at Emirates Airlines in 1985 and soon became Manager of sales and marketing activities in the UAE. In 1990 he was appointed General Manager of the Gulf, Middle East and Africa, responsible for 11 countries in the region with a contribution of 48% of the company's total revenue.

During his tenure at Emirate Airlines Al Kamda served as the Chairman of Dubai Express Freightworks, Emirates Hotel & Resort LLC and the Arab Air Career Organization. In addition to his current position at Istithmar, Al Kamda serves as the Vice Chairman of Tamweel and holds positions on the Boards of Dubai Islamic Bank, Emirates Post, Nakheel, Limitless and Dubai Maritime City.