Taqa CEO Sheldon quits; COO named
Abu Dhabi, February 26, 2014
Taqa, the international energy and water company based in Abu Dhabi, has announced that its chief executive officer Carl Sheldon will step down from the post in April.
A statement from the company said Sheldon will also relinquish his membership of the board of directors, effective at the Annual General Meeting in April.
Sheldon will remain as chairman of Jorf Lasfar Energy Company (JLEC), Taqa’s newly-listed Moroccan power business, and will serve as an advisor to the board of directors of Taqa.
The statement said with the stepping down of Sheldon, the leadership model at Taqa will change. Abdulla Saif Al Nuaimi, vice chairman, will take up a part-time executive role assuming responsibility for Taqa’s government and strategic relations and external affairs. Sheldon will hand over all his responsibilities to Edward LaFehr, an experienced oil and gas executive who currently leads Taqa’s North American operation.
LaFehr takes on the newly-created role of chief operating officer, based in Abu Dhabi.
Joel Croteau, currently vice president of development in North America, will succeed LaFehr as president of the North America business.
Under Sheldon, Taqa has evolved as a world-class operator of strategic energy infrastructure against the backdrop of tightening financial markets and volatile hydrocarbons prices, it said.
Hamad Al Hurr Al Suwaidi, chairman of the board of directors, said: “Carl has significantly strengthened the business across all our geographies and I am pleased that he will remain involved with Taqa. I would like to thank him for his great contribution and look forward to continuing to work with him in the future.”
Sheldon said: “I have been honoured to serve Taqa and Abu Dhabi for the past six years and I would like to thank the board of directors and all my colleagues for such a rewarding experience. I look forward to contributing to Taqa’s journey in the future.” - TradeArabia News Service