YAL announces its new Regional Board of Directors

The new Regional Board has been formed partly through appointments and partly by elections.

In order to ensure clear, transparent and fair elections, Hawkamah - The Institute for Corporate Governance was selected to be YAL's partner and was assigned with the role of management of the nomination and the elections process.

The first elections at YAL, held this year, have been organized as part of the YAL Leadership's efforts to streamline the organization's operations and to create independent and self sufficient chapters.

This election has been held in two phases. The first phase concluded successfully, with the new Chapter Executive Boards being elected by their chapter members.

Commenting on the second, crucial phase of the elections and the appointment of the YAL Regional BoD, H.E. Dr. Omar Bin Sulaiman, Chairman of the Board of YAL, said:

"Our members and our country chapters are our strong foundation for the successful outreach and implementation of all of YAL's goals, programs and initiatives. The Regional BoD of YAL holds great significance for our young and dynamic organization. This Board will lead the organization and devise the strategic plans for the coming years, while committing to ensuring the financial sustainability of the organization. As we tread on the path of positive change and progress for YAL, it is a matter of pride to know that our members have shown faith and entrusted this Board with the responsibility of overseeing the growth and development of our organization."

Speaking at the announcement of the new Regional BoD, Assem O. Kabesh, CEO of YAL, said, "The new Board Members will provide exemplary guidance to the organization as they have demonstrated great leadership in diverse areas of expertise. The Board will direct the successful implementation of our programs throughout our region and is committed to bringing international best practices and strengthening YAL's governance framework. The 2008 elections are a step to ensure that all YAL members have a voice in the decision-making, shaping of future strategies and designs of the various programs of our organization. I look forward to working closely with the New YAL Regional BoD."

The election process for the YAL Regional BoD started with a Call-for-Nominations; open to all YAL members, followed by the announcement of names of nominees by the Hawkamah Institute for Corporate Governance. This was followed by voting, by all new elected Chapter Executive Boards.

As per the YAL Governance, four Directors were elected through this process and the YAL Chairman has appointed two Directors on the new Regional BoD.

A non-voting Director has also been appointed to the new Regional BoD to represent the YAL Regional Head Office.

The newly elected Regional BoD will assume office as of the first Board Meeting Date, which will be announced shortly. They will serve till December 31, 2010. The names of the new Regional Board of Directors are:

H.E. Dr Omar Bin Sulaiman
Chairman - Young Arab Leaders (YAL)
Governor - Dubai International Financial Centre (DIFC)

Dr. Abdul-Malik Ahmad Al-Jaber
Palestine Chapter
Vice-Chairman & CEO
The PalTel Group

Ms Najla Al Awadhi
UAE Chapter
Member of the UAE Parliament
Federal National Council

Dr. Nada S. Al Mutawa
Kuwait Chapter
Researcher and GCC Specialist
Center of Strategic & Future Studies, Kuwait University

Mr. Louis Georges Hakim
UAE Chapter
VP Royal Philips Electronics /CEO
Philips ME

Mr. Rami Makhzoumi
UAE Chapter
President & CEO
Future Pipe Industries

Mr. Mustafa Abdel-Wadood
UAE Chapter
Managing Director
Abraaj Capital

Assem O. Kabesh
Chief Executive Officer
Young Arab Leaders
Non-Voting Director