Investcorp, a leading global provider and manager of alternative investment products, today announced that its founder, Nemir Kirdar, has stepped down as chairman of the board of directors to enter full retirement.
Dr Yousef Al-Ebraheem, currently vice chairman, has been nominated as his successor and Khalid R Al Zayani has been appointed vice-chairman of the board.
Mohammed Alardhi, executive chairman, Investcorp, commented: “As Investcorp’s founding CEO and executive chairman, Nemir pioneered a new investment model, channelling capital from the Gulf into unique opportunities in the West. For over three decades, he generated exceptional and consistent returns for Investcorp’s clients and shareholders, establishing the firm as a titan of the Gulf investment community. Later, as chairman of the board of directors, Nemir was instrumental in helping shape the vision for the future of Investcorp. He has left a mark on the firm that will last generations. I am delighted that Dr Yousef has accepted the nomination to be chairman of the board and I look forward to continuing to work with him over the years ahead.”
Dr Al-Ebraheem said: “I am honoured to have been invited by Investcorp’s board of directors to serve as chairman. The growth Investcorp has achieved since it was founded by Nemir in 1982 is remarkable; Nemir leaves behind a legacy that is apparent in all areas of the business, especially rooted in its culture and values. Looking to the future, with Mohammed Alardhi as executive chairman, there is clear vision in place and an exciting future for the business ahead.”
Dr Al-Ebraheem has served on Investcorp’s board since May 2014. He is the advisor of Economic Affairs to His Highness the Amir of Kuwait, having previously served as Kuwait’s Minister of Finance, as well as its Minister of Planning, Minister of State for Administrative Development Affairs and Minister of Education and Higher Education.
Dr Al-Ebraheem sits on the board of a number of major institutions including the American Kuwaiti Alliance and the Arab Gulf States Institute. He is a member of the board of trustees and executive committee and chairman of the audit committee of the Arab Open University, as well as a member of the board of advisors of the Center for Contemporary Arab Studies at Georgetown University, US. Dr. Al-Ebraheem has a PhD in economics from Claremont Graduate University.