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Moroccan businessman Ahmed Yahia Al Idrissi is the new chairman of Spanish multinational oil and gas company Cepsa.
Al Idrissi began his new position on February 4, leading a board of nine other directors from various nationalities.
Based in Madrid, Cepsa operates in several countries in Europe, the Americas, and Africa. It owns several service stations in Morocco, especially in the north of the country.
The appointment of Al Idrissi at the head of the Spanish multinational is expected to give a new impetus to its investments in Morocco.
Cepsa first expanded in Morocco in 2019 through a 50:50 joint venture with Derhem Holding Group, a Moroccan fuel distributor that has been operating since 1976.
The Moroccan-Spanish joint venture was called Atlas Nord Hydrocarbures (ANH). Its investment project, worth €120 million ($145 million), concerns the establishment of 100 gas stations across Morocco over five years.
Al Idrissi earned the chairmanship position at Cepsa thanks to an impressive resume. He is the CEO of direct investments at Emirati state-owned holding Mubadala Investment Company.
The Moroccan businessman has previously held leadership positions at Spanish mining operator MATSA, American tech giant AMD, and Abu Dhabi-based renewable energy group Masdar.
“He has assisted leaders of large corporations to drive major performance transformations, including by working on issues related to growth strategy, acquisitions and post-merger management, divestitures, international expansion and new business development, risk management, operational turnarounds, organizational restructuring, and capability building,” the businessman’s bio on Cepsa’s website says.
Prior to starting his career, Al Idrissi studied both in France and in the US. He earned an Engineer’s Degree in industrial engineering from the Ecole Centrale Paris, as well as a Master of Science in mechanical engineering and product strategy from the Massachusetts Institute of Technology (MIT).
