UAE's Tabreed Says CFO Ridlington To Leave

UAE’s Tabreed Says CFO Ridlington To Leave

Says Adrian Kershaw replaces Steve Ridlington as CFO; Ridlington was instrumental in co's debt restructuring; No reasons given for the move

April 24, 2011 10:35 by Reuters

UAE’s Tabreed said its Chief Financial Officer, Steve Ridlington, who anchored much of the district cooling firm’s debt restructuring process is leaving the company.
Adrian Kershaw, a former financial director with Tabreed, will replace Ridlington as the new CFO, the company said in a bourse statement on Sunday. Kershaw’s appointment is effective May 1.
Tabreed did not cite a specific reason for Ridlington’s departure.
The Dubai-listed firm secured an extra 3.1 billion dirhams ($844.2 million) lifeline from state-owned fund Mubadala in March.
It also reached a deal with banks earlier this year to refinance 2.63 billion dirhams in debt.
Kershaw joined Tabreed in June 2010 and has over 15 years of experience in finance and accounting, the company said in the statement.
Tabreed shares were trading higher by 2.7 percent on the Dubai bourse at 0640 GMT. (Reporting by Praveen Menon; Editing by Dinesh Nair)
UAE’s Tabreed said its Chief Financial Officer, Steve Ridlington, who anchored much of the district cooling firm’s debt restructuring process is leaving the company.
Adrian Kershaw, a former financial director with Tabreed, will replace Ridlington as the new CFO, the company said in a bourse statement on Sunday. Kershaw’s appointment is effective May 1.
Tabreed did not cite a specific reason for Ridlington’s departure.
The Dubai-listed firm secured an extra 3.1 billion dirhams ($844.2 million) lifeline from state-owned fund Mubadala in March.
It also reached a deal with banks earlier this year to refinance 2.63 billion dirhams in debt.
Kershaw joined Tabreed in June 2010 and has over 15 years of experience in finance and accounting, the company said in the statement.
Tabreed shares were trading higher by 2.7 percent on the Dubai bourse at 0640 GMT. (Reporting by Praveen Menon; Editing by Dinesh Nair)