April 26, 2015 / 7:08 AM / 3 years ago

MOVES-Bahrain's Investcorp appoints Kirdar as new chairman

DUBAI, April 26 (Reuters) - Investcorp, the alternative investment firm, has appointed Nemir Kirdar as chairman of its board of directors, effective from July 1, it said in a statement on Sunday.

Kirdar will replace Abdul-Rahman Salim al-Ateeqi, who will retire as chairman at the end of the current fiscal year on June 30. Ateeqi has served as chairman since the company’s inception in 1982.

Bahrain-based Investcorp announced in October that Kirdar would retire in June 2015 from his positions as executive chairman and chief executive.

Mohammed al-Shroogi, president of Gulf business, and Rishi Kapoor, chief financial officer, will become co-chief executives from July 1, subject to regulatory approval. Mohammed al-Ardhi, a non-executive board director since September 2008, will succeed Kirdar as executive chairman.

Reporting by Tom Arnold; Editing by Andrew Torchia

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