Ridlington returns to Tabreed
Former chief financial officer resumes role five years after departure.
Steve Ridlington is to return to his former role as chief financial officer (CFO) of National Central Cooling Company (Tabreed), five years after leaving the district cooling company.
On February 22 he succeeds Adrian Kershaw who will remain until the end of March in order to ensure a smooth handover.
Ridlington lead a major restructuring of Tabreed during his first spell in charge from 2009 to 2011, the Abu Dhabi-based district cooling company said in a statement to the Dubai Financial Market.
He has spent the last four years in London as CFO for Buried Hill, a private upstream oil and gas exploration company and has over 34 years of international industry experience, including 17 at global oil major BP.
Jasim Husain Thabet, Tabreed’s CEO said: “It is with great pleasure that we welcome Steve to Tabreed, who brings with him a wealth of industry experience spanning the globe.
“His track record demonstrates an ability to enhance shareholder value while strengthening the company’s financial position. I’m confident that Steve will make an immediate impact on our business, and will continue to drive our organization forward.”
Thabet also praised Kershaw’s tenure as CFO: “During his five years at Tabreed, Adrian was a critical component of our growth story. He was instrumental in the recapitalization program, which set in place a stable capital structure and returned the company to sustainable profitability.
“Most recently, he successfully concluded the AED 2.6bn ($707mn) refinancing of all our debt facilities, and has worked tirelessly to transform Tabreed into a leading utility infrastructure company. I would like to thank Adrian for his many contributions, and wish him all the best on his next venture.”
Tabreed currently has 69 district cooling plants across the GCC and provides its services to many of the region’s landmark projects including Ferrari World, Yas Marina Circuit and Sheikh Zayed Grand Mosque in Abu Dhabi, as well as Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.