MANAMA: Yusuf bin Ahmed Kanoo (YBA Kanoo Group), a family-owned multinational business, has announced the appointment of Khalid Mohamed Kanoo as the new group chairman.
A joint statement by the board of directors yesterday said: “YBA Kanoo Group board of directors are grateful for the lessons taught by our late group chairman Mubarak Kanoo.
“As a family, we strive to continue to build upon his legacy in making our company one of the most respected and largest family-owned businesses in the Middle East.
“Khalid Kanoo’s appointment is a clear reflection of the company’s aspiration to take on our Vision 2020 programme.
“He brings a wealth of knowledge, experience and dedication to the role and we know that his strong focus on compliance, transparency, governance and fairness will continue to serve our business well.”
Commenting on the announcement, Mr Kanoo said: “I am honoured and humbled to take the torch and continue to grow and nurture our family and businesses through sustainable strategies and sound leadership.
“Succeeding great fore-fathers starting with the founder Haji Yusuf bin Ahmed Kanoo and down to generations of extraordinary leaders who led the way through more than 128 years of successful entrepreneurship is both an exciting challenge and responsibility and I look forward to working with everyone in our family, our communities and business partners to bring further growth and success.”
Mr Kanoo has held many positions and executive roles within and outside the group, including board membership of several banks, investment houses and government agencies.
He is the founder and president of the Bahrain Family Business Association and chairs the board of trustees of the YBA Kanoo Award amongst many other leadership roles.