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Kuwait’s $33bn holding company appoints female CEO

Kuwait Projects Co, the holding company with assets of about $33 billion, has appointed Sheikha Dana Nasser Sabah Al Ahmad as its CEO, in another senior appointment for a woman in the Gulf.

Sheikha Dana was previously the CEO of Al Futtooh Holding Co and on Kuwait Projects’ board since 2020, according to a statement.

She holds board positions in Gulf Insurance Group, OSN and Kamco Invest and her Her appointment is effective January 1.

In neighbouring Saudi Arabia, Sarah Al-Suhaimi became the first woman to chair the Saudi Arabian stock exchange, known as Tadawul (pictured above), in 2017.

The kingdom’s sovereign wealth fund has also appointed Rania Nashar as head of compliance and governance, making her one of the most senior women at the kingdom’s $450 billion Public Investment Fund.

Kuwait Projects, also known as Kipco, said Faisal Al Ayyar will retire as an executive after more than 30 years with the company. He will, however, continue to be the vice chairman.