Al Yah Satellite Communications Company PrJSC (Yahsat), a private joint stock company fully owned by Mubadala, has appointed Masood. M. Sharif Mahmood as Chief Executive Officer (CEO) as of June 2013. Masood has been promoted to the role having previously held the post of Deputy CEO (DCEO) since June 2012. Tareq Abdel Raheem Al Hosani, former CEO, will join the Yahsat Board of Directors and will continue to play a vital role in the organisations strategic direction.

Commenting on the executive appointments Jassem Mohammed Al Zaabi, Yahsat Chairman said: “Tareq played a key role building Yahsat into a world class satellite communication organisation. Under his guidance and direction Yahsat has gained industry recognition and continues to grow on both a local and international level. I wish Masood the best of luck in his new role and have 100% confidence that he will lead Yahsat to further success.”

“It is an honour to be taking over as CEO at a time when our business is flourishing and taking great leaps in achieving our vision to be the global partner of choice for reliable, innovative and affordable satellite solutions. Key milestones not only include the launch of our first two satellites in less than five years of operation, but also the speed at which we have achieved growth in such a short period of time,” stated Masood M Sharif Mahmood. “In the coming years I will continue Yahsat’s growth trajectory by expanding the business operation, establishing new partnerships and further nurturing and developing home grown talent in the field of science and technology.”

Masood brings with him a wealth of experience in corporate strategy and asset management, having worked within Mubadala for several years. Previously his roles have involved investment management and business development for a number of government and semi-government entities such as the Executive Office of HH Sheikh Mohammed bin Rashid Al Maktoum and Dubai Holding. As CEO, Masood will be instrumental in driving Yahsat’s business objectives forward in 2013 and beyond. He will also focus on the complete rollout of YahClick, Yahsat’s flagship satellite broadband internet service spanning 28 countries in the Middle East, Africa, Central and South West Asia.

“I have been privileged to witness the company grow year on year and I am proud of how much our team achieved in just a few short years. I have no doubt Masood will continue to take Yahsat from strength to strength as we significantly expand our operations across the four corners of the world,” commented Tareq Abdel Raheem Al Hosani.