Abu Dhabi’s Agthia appoints new acting chief executive

Jamal Al Dhaheri is also the chief executive of Senaat that owns Agthia

Agthia reported a  drop in its first-half net profit on Tuesday.​​ Delores Johnson / The National

Agthia, the food and beverage company that produces Al Ain water, appointed Jamal Al Dhaheri as its acting chief executive.

Mr Al Dhaheri is also the chief executive of Senaat, the Abu Dhabi industrial conglomerate that owns Agthia and other companies including Emirates Steel, Ducab and Arkan.

He will be replacing Tariq Al Wahedi who will take on a new role as adviser to the chief executive, announced Agthia on Monday.

"Mr Al Dhaheri brings over 23 years of experience in strategy planning, expansions, regulatory compliance, joint ventures and engineering," the company said.

Mr Al Dhaheri has previously worked with Abu Dhabi National Oil Company, Abu Dhabi Water and Electricity Company and Union Water and Electricity, according to his biography on Senaat’s website. He is also the chairman of construction and building materials company, Arkan, vice-chairman of cable manufacturing firm Ducab and a member on the board of Emirates Steel.

Mr Al Dhaheri holds a bachelor of science degree from the University of the Pacific in the US and an executive MBA from Zayed University.

Agthia, listed on the Abu Dhabi Securities Exchange, reported a 2 per cent increase in its full-year revenue for 2019 due to the company's ongoing geographic expansion and diversification of products.

Revenue for the period ending December 31 climbed to Dh2.04 billion, the company said last month. However, net profit attributable to shareholders slid 35 per cent to Dh137 million.

The company’s total assets increased marginally to Dh3.12bn as of December 31, compared to Dh2.96bn at the end of 2018, after implementing new accounting standards.

Established in 2004, Agthia’s assets are located in the UAE, Oman, Saudi Arabia, Egypt and Turkey. It manufactures a variety of brands in different categories including water and beverages, flour and animal feed, processed fruits and vegetables, dairy and frozen baked products.