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 CORPORATE NEWS

Disclosure - In respect of our CEO
Feb 17, 2014    

 

Further to the disclosure of 20th January 2014, in respect of our CEO Mr. Ravi Shankar.

We would like to inform all the shareholders, investors and stakeholders that, due to personal reasons that entail the availability of  the Chief Executive Officer Mr. Ravi Shankar to be in India, therefore he has requested the Board of Directors “not to renew his employment contract” which expires on end of February 2014. Thereon,  the Board discussed his request at its meeting held yesterday and considering his circumstances the Board regretfully accepted his request . The Board thanked him for his considerable contribution in increasing the business and wished him all success.  

We would like to inform all the shareholders, investors and stakeholders that, due to personal reasons that entail the availability of the Chief Executive Officer Mr. Ravi Shankar to be in India,therefore he has requested the Board of Directors “not to renew his employment contract” which expires on end of February 2014. Thereon, the Board discussed his request at its meeting held yesterday and considering his circumstances the Board regretfully accepted his request . The Board thanked him for his considerable contribution in increasing the business and wished him all success. 

 

Therefore, and as disclosed earlier, Mr. R. Muthukumar, Chief Financial Officer (CFO)  will continue as the acting Chief Executive Officer (CEO) of OUIC until further notice.  

 

Regards,

Nassir Bin Salim Al Busaidi - Managing Director (Spokes Person)  

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