Nemir Kirdar

Investcorp, the alternative investment firm, has appointed Nemir Kirdar as chairman of its board of directors, effective from July 1, it said in a statement on Sunday.

Kirdar will replace Abdul-Rahman Salim Al-Ateeqi, who will retire as chairman at the end of the current fiscal year on June 30. Al-Ateeqi has served as chairman since the company’s inception in 1982.

Bahrain-based Investcorp announced in October that Kirdar would retire in June 2015 from his positions as executive chairman and chief executive.

Mohammed Al-Shroogi, president of Gulf business, and Rishi Kapoor, chief financial officer, will become co-chief executives from July 1, subject to regulatory approval. Mohammed Al-Ardhi, a non-executive board director since September 2008, will succeed Kirdar as executive chairman.

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