Sameer al-Ansari has left his position as non-executive chairman at Dubai International Capital (DIC), the investment arm of Dubai Holding which he helped found in 2004.
“Dubai International Capital confirms that its board was dissolved in January 2010 by its parent company, Dubai Holding, in order to implement a new governance structure,” read a DIC statement released on 12 June.
“DIC is currently under the direct supervision of Dubai Holding. All sub-committees of the DIC board including investment and audit committees remain in place.”
In May, DIC requested a three-month delay on the repayment of around $1.2bn of a reported $2.5bn debt.
Under Al-Ansari’s leadership, DIC made a number of significant investments in the private equity field including the UK’s Alliance Medical ($873m), Travelodge ($982m) and the Tussauds Group ($1.2bn).
Al-Ansari stepped down as chief executive of DIC last August to become executive chairman, a post that lasted just a few months before he stepped back again to become non-executive chairman.
He will continue to serve as chief executive of investment bank Shuaa Capital, a position he was appointed to in September last year.