Mubasher: Makhazen, the Kuwait-based infrastructure, logistics, and industrial services company, has appointed Ahmad Al Banna as the CEO and Khaled Faisal Al Ghais as the Vice Chairman of the board, according to a press release.

The appointments are part of a planned leadership transition as the company enters a new chapter focused on execution and sustainable value creation, following its new identity as Makhazen instead of Agility Public Warehousing Company.

Ahmad Al Banna, Makhazen CEO, said: “Makhazen is entering a chapter defined by execution. Our focus is on strong operating performance across our asset base and delivering sustainable value for our shareholders and stakeholders while supporting national development priorities through long-term partnerships across the public and private sectors.”

Al Banna brings more than 20 years of experience within the Makhazen Group, serving as Senior Vice President at Agility Logistics Parks Kuwait, where he led the transformation of the company’s logistics and industrial real estate portfolio, scaling it into a globally benchmarked operating platform.

Meanwhile, Vice Chairman of Makhazen, Khaled Faisal Al Ghais, commented: “The company has a strong institutional foundation and a well-established governance framework. The Board’s focus is to provide clear strategic oversight and support management as it executes the next phase of growth with stability and discipline.”

Al Ghais has over 25 years of experience across investment banking, corporate governance, and institutional leadership. He has held senior roles at leading international and Kuwaiti institutions, including Dresdner Kleinwort, Investcorp, the Kuwait Investment Authority (KIA), the Capital Markets Authority of Kuwait, and the Gulf Investment Corporation.

Over the past eight years, Al Ghais led LABCO through a successful operational and financial transformation.

In its coming chapter, Makhazen which is also UAE-listed on Dubai Financial Market (DFM) aims to prioritize operational efficiency, optimized asset deployment, and disciplined capital allocation, while advancing growth opportunities across the Kuwaiti economy through constructive partnerships, reinforcing the company’s role as a national growth enabler.

Chairman of the cross-listed Makhazen, Faisal Jamil Sultan, said: “I extend my sincere appreciation to Tarek Sultan for his contributions in building Makhazen’s institutional strength. The company today is well positioned to move forward with clarity, strong execution, and a long-term strategy aligned with national economic priorities.”

It is worth noting that the board of Makhazen approved the resignation of Tarek Sultan from his position as a CEO effective 31 December 2025.