Mubadala Development and International Petroleum Investment Company (Ipic) have named the new board for their USD125bn merged company, the government announced on Saturday. The Chairman of the Board of the combined conglomerates will be Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, with Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, as Vice Chairman. Khaldoon Al Mubarak, the Mubadala CEO, will be the CEO of the new merged entity, which has been named?? Mubadala Investment Company; it will be one of the world’s largest strategic investment companies with 68,000 employees. Other board members include Suhail Al Mazrouei, the Minister of Energy, who was also managing director of Ipic and chairman of Mubadala Petroleum. The structure of the new company is expected to be detailed by the new company after the board meets. Four other board members were named: i) Hamad Al Hurr Al Suwaidi comes from Ipic and has held a number of senior government and government-related board positions in Abu Dhabi; ii) Mohammed Al Bowardi is the Minister of State for Defence Affairs; iii) Abdulhamid Mohammed Saeed, whose positions include managing director of FGB and Reem Investments; and iv) Mahmood Al Mahmood is the CEO of ADS Holding, a privately held financial services firm based in Abu Dhabi. (The National)