Tabreed Announces CEO Retirement and Financial Results
National Central Cooling Company PJSC, known as Tabreed, announces significant developments including financial results and CEO retirement.
Summary
Tabreed's board meeting on November 13, 2025, approved the un-audited interim financials and announced CEO Khalid Al Marzooqi's retirement effective January 2, 2026.
National Central Cooling Company PJSC, popularly known as Tabreed, has made headlines with key announcements from its recent board meeting held on November 13, 2025. The UAE-based utility company, a leader in district cooling solutions, has approved its un-audited interim financial accounts for the period ending September 30, 2025. Additionally, the company has disclosed the upcoming retirement of its CEO, Khalid Al Marzooqi, effective January 2, 2026, with a successor to be announced soon.
Tabreed's financial performance is pivotal to its stakeholders, given its prominent role in providing energy-efficient and environmentally-friendly cooling solutions across the GCC. The approval of the un-audited interim accounts signifies a transparent approach to financial management, aligning with the Disclosure and Transparency Regulations. While the detailed financial figures are yet to be fully disclosed, this step demonstrates Tabreed's commitment to maintaining investor confidence and regulatory compliance.
The retirement of CEO Khalid Al Marzooqi marks a significant transition for Tabreed. Under his leadership, the company has expanded its portfolio to 83 plants, delivering over a million Refrigeration Tons (RT) to various sectors. His departure opens a new chapter for Tabreed, with the anticipation of a new CEO to steer the company towards further growth and innovation in the cooling industry.
Investors and stakeholders are advised to monitor Tabreed's forthcoming announcements regarding its financial performance and leadership succession. The company's strategic direction, especially in the context of its leadership change, will be crucial in determining its market position and future growth trajectory.
Considering the current developments, a 'hold' strategy is recommended for investors. While the leadership transition introduces an element of uncertainty, Tabreed's strong market presence and commitment to sustainable cooling solutions provide a stable foundation. Investors should keep an eye on the new CEO's vision and potential strategic shifts that could influence Tabreed's market performance.
Source
Summary
On November 13, 2025, the Board of Directors of the National Central Cooling Company PJSC, also known as Tabreed, held a meeting. During this meeting, the board approved the company's unaudited interim financial statements for the period ending September 30, 2025. They also agreed to release these financial statements and a press release to the Securities and Commodities Authority and the Dubai Financial Market. Additionally, the board accepted the resignation of Tabreed's CEO, Khalid Al Marzooqi, who will retire effective January 2, 2026. A successor will be announced at a later date.
