ADCCI hires leads for Abu Dhabi Family Business Council: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) appointed Khaled Al Fahim as chairman and Masood Al Masaood as vice chairman of the newly launched Abu Dhabi Family Business Council, according to a press release.

Backgrounds: Al Fahim, who is a board member at ADCCI and chair of Arady Properties and Ajyad Capital, brings over 20 years of experience in governance, restructuring, and family business leadership. Al Masaood is currently treasurer at ADCCI and vice chairman of Al Masaood Oil and Gas. He is also founder and chairman of Emirates Angels Investors Association.

The CEO of Austrian oil and gas firm OMV — which agreed to merge its polyolefins business with Adnoc in March — Alfred Stern said he will not be re-running for a second term at the helm of the business once his term ends on 31 August, 2026, according to a statement. Stern oversaw the merger, which is set to be complete in 1Q 2026 and will create Borouge International, a USD 60 bn global polyolefins player set to be the world’s fourth largest. He was CEO for four years, and is credited for the company’s shift away from fossil fuels and towards sustainable fuels and chemicals.

His exit is viewed as “negative news,” Erste Group said in a research note, though it is viewed to be unrelated to the merger transaction. It is not clear who will be heading the merged entity or who will lead OMV followign his exit.

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