Senior DAE executive looks set to step down


Dubai Aerospace Enterprise’s Chief Corporate Development Officer, Rashid Al Malik, has resigned from his post, according to a senior DAE executive.

Al Malik is the second key executive the Dh55-billion aerospace company has lost in the last six months, after DAE Airports’ chief executive, Kjeld Binger, had stepped down from his position in a sudden move, in October last year, after DAE failed in its bid to acquire a stake in Auckland International Airport.

“DAE is made of six business, each with their separate teams, strategies and objectives. Both the executives left different divisions of DAE to pursue other opportunities,” Munther Juma, DAE’s senior vice-president for marketing, told Emirates Business.

Asked the reason behind Al Malik’s resignation, Juma said: “He had decided to pursue other opportunities.”Al Malik had been one of the most senior members of the DAE management team, according to the company.

DAE is yet to identify a successor. Al Malik, a pilot with Emirates, was appointed to his position in 2006 and was also listed as DAE’s deputy chief executive.

“He played a pivotal role in establishing DAE, which is becoming a force in the aerospace sector and which will play a central role in Dubai’s emergence as a 21st century aviation hub,” said Juma.

The global aerospace manufacturing and services company signed letters of intent for aircraft order worth $27bn at the 2007 Dubai Airshow, comprising 200 aircraft from Airbus and Boeing.

The Number


$27bn: The amount DAE signed letters of intent for at the 2007 Dubai Airshow