Abu Dhabi-Mubasher: Abu Dhabi National Energy (TAQA) said that Edward LaFehr will resign from his position as the chief operating officer (COO), according to a bourse statement.

The company will appoint Saeed Hamad Al Daheri as acting COO to resume LaFehr’s duties.

Al Daheri has been involved in the company’s transformation programme launched to reduce costs, the statement said, adding that the programme has achieved approximately AED 5 billion in capex and cash cost savings.

The company’s stock stabilised at AED 0.58 on Thursday.