DAE Holding CEO Retires

DUBAI, UAE – Dubai Aerospace Enterprise Holding (DAE), the global aerospace, manufacturing and services corporation, today announced the retirement of its Group Chief Executive Officer, Bob Johnson.

Johnson, 60, who became DAE’s CEO in July 2006, has decided to retire.

Johnson said: “It has been an honour to work with the shareholders and the board of directors and thank them very much for their support to oversee the emergence of DAE in the aerospace industry and to make such significant strides in just two short years. But now is the right time for me to retire. DAE already has in place a team of exceptionally talented people who will continue to take the company forward and develop its businesses on a global stage.”

H.E. Dr Omar Bin Sulaiman, DAE Holding Managing Director, said: “Bob has contributed much to the development of DAE and to our work of building Dubai as an aviation hub for the 21st Century. We wish Bob the best of luck with his future plans and thank him for his work at DAE over the last two years.”

DAE also confirmed the appointment of George Mushahwar as its Acting CEO. He was previously Chief Operating Officer of the Dubai-based TECOM Investments, responsible for managing its global investment portfolio.

About DAE:
DAE is a fast developing global aerospace, manufacturing and services corporation made up of six divisions – DAE Airports, DAE Capital, DAE Engineering, DAE Manufacturing, DAE Services and DAE University.

Headquartered in Dubai, the group is growing through a series of phased developments and acquisitions to become a global player and to produce an integrated aerospace cluster, based at Dubai World Central – the new 140 square kilometre airport and logistics city being constructed in Jebel Ali, Dubai. It is forming international partnerships at the highest level of industry with the aim of establishing one of the most innovative and successful businesses in the global aerospace industry within the next decade.

DAE’s shareholders include EMAAR, ISTITHMAR World, Dubai Silicon Oasis (DSO), Dubai International Capital, DIFC Investments LLC, the Government of Dubai and AMLAK Finance.