Abu Dhabi’s Mubadala appoints new chairman, deputy CEO at Strata

Abu Dhabi-based Mubadala has replaced the chairman and announced other managerial changes in its wholly-owned aero-structure parts manufacturing company Strata.

Cyril Arar, who was leading the Defense Services vertical within Mubadala’s Aerospace and Engineering Service platform, has been appointed as the new chairman.

He replaces Homaid Al Shemmari who has led the board since Strata’s founding in 2010. Al Shemmari will continue in his role as chief executive of Aerospace & Engineering Services at Mubadala.

Meanwhile Ismail Ali Abdulla has been appointed to the newly created role of deputy CEO. Also part of Mubadala’s Aerospace and Engineering Services platform, he previously led the development of the Nibras Al Ain Aerospace Park.

In his new role, Abdulla will be charged with building up capabilities for Strata’s next phase of development and will also be responsible for guiding the commercial department, building management services and overseeing business performance and risk management.

Mubadala also announced that Murray Hundleby has been appointed as the general counsel.

Strata is expanding its portfolio of products and capabilities for global original equipment manufacturers. The Al-Ain-based company already has partnerships with Airbus, Boeing as well as suppliers like Alenia Aermacchi, FACC AG and SAAB.

The company, which hopes to breakeven in 2017 with sales of over Dhs 500m, intends to grow that figure to Dhs 1bn by 2020.