Istithmar boss resigns amid debt woes
David Jackson resigns from investment unit of troubled Dubai World.
January 20, 2010 8:45 by kippreport
David Jackson has resigned as chief executive of Istithmar, the investment unit of the troubled Dubai World conglomerate.
Andy Watson, currently Chief Investment Officer, will replace Jackson as acting chief executive at Istithmar. The company’s investments include the QE2 cruise liner and US retailer Barneys.
Dubai World said in a statement that Jackson has left to pursue other opportunities.
“Today, Istithmar World is focused on the steady-state management of existing assets to maximize value rather than on private equity investment,” said the statement.