Mubadala Investment Company (Mubadala), the Abu Dhabi sovereign investor, on Monday announced the transition of Musabbeh Al Kaabi from his current role as Chief Executive Officer of the UAE Investments platform to Executive Director of a new Low Carbon Solutions & International Growth vertical at Abu Dhabi National Oil Company (Adnoc) as of 16th January, 2023.

Al Kaabi’s move follows the announcement of Adnoc’s strategy to support the UAE “Net Zero by 2050” Strategic Initiative. The new Low Carbon Solutions & International Growth vertical will be focused on new energies and low carbon solutions as well as international growth in areas such as gas, liquefied natural gas (LNG) and chemicals.

The entity will focus on new energies and low carbon solutions, including the company’s renewable energy and hydrogen portfolios and its position as a pioneer in carbon capture and storage, as well as international growth in gas, liquefied natural gas (LNG) and chemicals.

Commenting on the announcement, Khaldoon Khalifa Al Mubarak, Managing Director, and Group Chief Executive Officer of Mubadala, said, “Musabbeh’s leadership and his decades of delivering investments and partnerships that advance national economic priorities, uniquely position him for this senior leadership role at Adnoc.

“We at Mubadala are grateful for Musabbeh’s leadership. He joins a number of distinguished Mubadala alumni serving the UAE in new and importance capacities.” With Al Kaabi’s new appointment at Adnoc, Mubadala Deputy CEO Waleed Al Mokarrab Al Muhairi will serve as interim Chief Executive Officer of the UAE Investments platform.