Dubai – Mubasher: National Central Cooling Company (Tabreed) announced that Jasim Husain Thabet had resigned from his position as CEO of the company, according to a filing to the Dubai Financial Market (DFM) on Thursday.

The UAE-based regional district cooling utility’s board of directors approved the appointment of Bader Saeed Al Lamki as the new CEO as of 21 April.

Jasim Husain Thabet previously expected the company’s performance to further improve in 2019 with new expansions and long-term contracts.

For the full-year 2018, Tabreed posted a 6.9% year-on-year profit increase to AED 427.62 million ($116.44 million), compared to AED 400.13 million ($108.96 million) in the prior year.

In March, the UAE-based firm’s ordinary general meeting (OGM) approved to distribute a cash dividend of 9.5 fils per share, or 9.5% of the share’s nominal value, for 2018.