Mideast Veteran Philip Dundas Joins Board of Qalaa Holdings (Formerly Citadel Capital)

Dundas, formerly Managing Partner of Shearman & Sterling LLP’s Abu Dhabi office, brings decades of regional experience to leading African investor in infrastructure and industry

Philip B. Dundas, Jr., a veteran of the Middle East business community with particular expertise in energy, finance, restructuring, joint investment as well as mergers and acquisitions, has joined the Board of Directors of Qalaa Holdings (CCAP.CA on the Egyptian Exchange, formerly Citadel Capital) as a non-executive member.

The appointment underscores Qalaa Holdings’ commitment to having an active Board of Directors that is not just a guardian of shareholder interests, but a corporate resource in its own right, said Qalaa Holdings Chairman and Founder Ahmed Heikal.

“We are making a considerable investment in governance — making sure we have the people and systems we need to not just safeguard shareholder interest, but to ensure our growth is sustainable,” said Heikal. Philip’s appointment to the Board comes just weeks after our appointment of our first full-time head of internal audit. I have no doubt Philip will add considerable value to the Board. I look forward to his ideas and his wise counsel.”

Qalaa Holdings is an African leader in infrastructure and industry focusing on energy, cement, agrifoods, transportation & logistics and mining.

Dundas was from 1981 until 2013 Managing Partner of the Abu Dhabi office of Shearman & Sterling LLP, having joined the firm in 1973 in New York. He has previously served as a director of Hyundai Oilbank and STX Metals of Korea as well as Xojet and Fuji Marine. Dundas has received from industry publications wide recognition of his longstanding contributions to business and finance in the Middle East, particularly as it relates to energy and M&A.

He earned his BA from Wesleyan University and his JD from Washington & Lee University.


Qalaa Holdings (CCAP.CA on the Egyptian Stock Exchange) is an African leader in infrastructure and industry focused on Energy, Cement, Agrifoods, Transportation & Logistics, and Mining. Qalaa Holdings was formerly known as Citadel Capital. To learn more, please visit qalaaholdings.com (click to reveal this email).


Forward-Looking Statements

Statements contained in this News Release that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of Qalaa Holdings. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes “targets” or “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of Citadel Capital may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of Qalaa Holdings is subject to risks and uncertainties.


For more information, please contact:

Ms. Ghada Hammouda
CMO and Head of Corporate Communications
Qalaa Holdings

Tel: +20 2 2791-4439 • Fax: +20 22 791-4448

Mobile: +20 106 662-0002