Abu Dhabi: Sanad, a wholly owned subsidiary of Mubadala Investment Company (Mubadala), on Tuesday (February 1) announced the launch of a new strategy to expand business beyond the aerospace sector.
The company has also appointed Mansoor Janahi, currently Deputy Group CEO of Sanad, as the new Group CEO to lead the growth stage under the new strategy. He will assume his position with effect from February 1, the company said.
The strategy and leadership announcements follow the launch of ‘Operation 300bn’ last year, which aims to more than double the industrial sector contribution to GDP in the UAE to AED300 billion by 2031.
Under its new industrial services strategy, Sanad will contribute to the economic diversification agenda and help position the UAE as a global industrial hub. Its future offering will be focused on providing technology-driven and integrated industrial services.
Badr Al-Olama, the Executive Director of UAE Clusters at Mubadala and Chairman of Sanad, said, “Sanad stands on the cusp of a major transformation underpinned by the Fourth Industrial Revolution. Building on our track record of more than three decades of experience in the commercial aviation sector, Sanad is ready to take the next step forward and become the source-to-go, one-stop shop for the broader industrial services sector.
“Mansoor’s knowledge and wealth of experience will be invaluable in this decisive phase for the company as it builds on its strong performance to provide innovative solutions to support the growth of Sanad over the next decade. This is also in line with UAE Investments strategy to accelerate the diversification of the UAE’s economy and grow our national champions in multiple sectors.”
Commenting on his appointment, Janahi said, “The UAE has an amazing track record of industrialization to build on, and a strong footprint in industrial services. These capabilities and prominent market presence have been developed in record time. If we look at the aerospace industry, and Sanad specifically, we have managed to create a truly homegrown success story and a globally recognized industry leader.
“In line with its new strategy, Sanad will continue leveraging synergies with international partners, we will develop new and innovative service concepts that combine both our industrial and financial knowledge. Ultimately, our vision for the future is to develop profitable and sustainable industrial service offerings to address the ever changing needs of clients across multiple sectors. I look forward to continuing working with the team at Sanad, our clients and partners in such exciting times and contributing to efforts to make the industrial sector a main driving force of the UAE’s ‘Next 50 years’ journey.”
The current Group CEO Troy Lambeth will be supporting a number of strategic initiatives both within the Sanad Group as well as in support of Mubadala’s UAE Investments platform.