Green Crescent Insurance falls as CEO resigns

February 6, 2014 3:14 pm

The Abu Dhabi market index ADXGI gained for the second day straight, closing 0.71 per cent higher at 4,721.72 points on Thursday, February 6. It was driven by gains in the banking and industrial segment. Union National Bank surged 4.70 per cent to AED6.70. Arkan Building Materials edged up by 14.67 per cent, near limit up) to hit AED0.86. The shares of Green Crescent Insurance slipped by 0.74 per cent to AED1.35. Today, the insurer said that its Chairman, His Excellency Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, accepted the resignation of CEO Dr Hazem Al Madi, effective February 28. HE Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, says: “Although Dr Hazem will be relinquishing his executive duties, he will remain available to the company as a technical advisor to the board of directors.”

Gérard Al-Fil