Abu Dhabi National Energy’s chief executive of two years has stepped down.
The responsibilities of Carl Sheldon, who steered Taqa through a reassessment of far-flung assets from Canada to the Caribbean, will be shifted to a newly created chief operating officer role.
Edward LaFehr, the head of Taqa’s North America operations, will become chief operating officer while Abdulla Saif Al Nuaimi, advisor to the Abu Dhabi Water & Electricity Authority, which is the majority owner of Taqa, will take over as executive vice chairman.
“The succession we announced today was triggered by Carl’s decision to step down,” said a Taqa spokesman. “He wishes to be closer to his family and pursue other business interests in the US. The subsequent restructuring of the leadership model will benefit from Abdulla’s unique abilities in government relations while also benefiting from Ed’s industry expertise and track record in North America.”
A former chief executive Peter Barker-Homek left the company acrimoniously in 2009 after an ambitious, and pricey, expansion. Mr Sheldon was appointed as general manager while Mr Al Nuaimi stepped in as chief executive.
After Mr Al Nuaimi stepped down in 2011, Mr Sheldon was formally named chief executive.
Joel Croteau, the vice president of development in North America, will become the new president of Taqa’s North American operations, the company said.
“Taqa has built up an enviable record as a world-class operator of large scale energy assets around the world and we will continue to be a reliable partner for strategic investments over the long term,” said Mr Al Nuaimi. “We continue to see growth in our business and have several exciting opportunities in the pipeline.”
Mr Sheldon remains chairman of the recently listed power unit in Morocco and as an adviser to the Taqa board.
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At a glance
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