Ibrahim Al Kuwari
About Ibrahim J. Al Kuwari
Ibrahim J. Al Kuwari, age 63, joined PPIH’s Board in January 2025. He is CEO of Qatar Solar Technologies (QSTec) since February 2018 and previously served as CEO of Qatar Fuel (WOQOD) and held senior roles at Qatar Petroleum and Dolphin Energy. He holds a degree in Industrial & Systems Engineering from the University of Southern California; his core credentials include deep MENA energy-sector expertise, operational leadership, and strategic planning .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Qatar Solar Technologies (QSTec) | Chief Executive Officer | Feb 2018 – present | Strategic leadership; operations oversight; Board liaison |
| Mazaya Real Estate Development | Board Member & Managing Director | 2019 – Mar 2021 | Guided strategic direction; oversaw financial and long-term objectives |
| Qatar Fuel (WOQOD) | Chief Executive Officer (on secondment from Qatar Petroleum) | From Mar 2014 | Led growth strategy; expanded operations; shareholder returns |
| Dolphin Energy Limited | Deputy GM, Qatar Operations | From 2005 | Managed HR, Finance, PR, Technology functions |
| Qatar Petroleum | Engineering/Project roles; Head of Cost & Planning; Engineering Services Manager; Engineering Manager (refinery expansion) | From 1987 | Key roles across onshore/offshore projects |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Qatar Solar Technologies (QSTec) | CEO | Current | Strategic, operational leadership; Board interface |
| Mazaya Real Estate Development | Board Member & Managing Director | Former | Strategy and oversight until Mar 2021 |
Board Governance
| Item | Detail |
|---|---|
| Independence | Board determined all Audit, Nominating/Governance, and Compensation Committee members are independent under SEC/NASDAQ; Al Kuwari sits on all three . Four of five nominees are independent; CEO is not . |
| Committee Assignments | Audit Committee (members include Al Kuwari; Chair: David B. Brown) ; Nominating & Corporate Governance Committee (members include Al Kuwari; Chair: Robert J. McNally) ; Compensation Committee (members include Al Kuwari; Chair: David B. Brown) . |
| Audit Committee Report Signatory | Al Kuwari signed the Audit Committee Report, evidencing participation . |
| Meeting Cadence & Attendance | 2024 meetings: Board (8), Audit (9), Nominating (5), Compensation (7), Unanimous Consents (8) . Company expects directors to attend Board, committee, and annual meeting; directors attended at least 75% of meetings in 2024 and all directors attended the 2024 annual meeting (note: Al Kuwari joined in 2025) . |
| Board Leadership | Independent Chairman Jerome T. Walker not standing for re-election; new Chair (and lead independent director if applicable) to be elected post-Annual Meeting . |
| Policies | Majority voting in uncontested elections ; anti-hedging/pledging policy ; updated charters for all committees ; robust indemnification in bylaws –. |
Fixed Compensation
| Component (2025 Schedule) | Amount (USD) | Notes |
|---|---|---|
| Annual cash retainer (Non-Employee Director) | $45,000 | Annual cash retainer |
| Audit Committee member fee | $7,500 | Annual fee for members |
| Compensation Committee member fee | $6,000 | Annual fee for members |
| Nominating/Governance Committee member fee | $5,000 | Annual fee for members |
| Annual equity grant (Non-Employee Director) | $75,000 | Restricted stock; 1-year vesting |
| Component (2024 Actual for Al Kuwari) | Value (USD) | Notes |
|---|---|---|
| Fees Earned/Paid in Cash | $4,586 | Pro-rated for appointment in Jan 2025 within fiscal 2024 |
| Stock Awards | $0 | No grant in fiscal 2024 |
| Special Project Compensation | $0 | None received in fiscal 2024 |
| Total | $4,586 | Sum of components |
In addition, he is scheduled to receive a pro-rated restricted stock grant of $31,250 by end of May 2025 .
Performance Compensation
- Directors receive time-based restricted stock with one-year vesting; no performance metrics (e.g., ROE, TSR) are tied to director equity awards per the director compensation policy .
- No director-specific performance targets disclosed; skip performance metric table for director compensation due to non-disclosure .
Other Directorships & Interlocks
| Company | Role | Period | Potential Interlock/Conflict |
|---|---|---|---|
| Mazaya Real Estate Development | Board Member & Managing Director | 2019 – Mar 2021 | No related-party transactions disclosed at PPIH in 2024 |
| QSTec | CEO | Feb 2018 – present | No related-party transactions disclosed at PPIH in 2024 |
Expertise & Qualifications
- Energy industry, operations, strategy & planning, corporate governance, international experience, M&A, capital markets, finance/accounting, legal/regulatory, IT management, cybersecurity, HR/talent development, risk management, ESG – reflected in Board skills matrix for Al Kuwari .
- Industrial & Systems Engineering degree from USC .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Shares beneficially owned (as of Apr 28, 2025) | 0 | Less than 0.5% ownership |
| Ownership % of outstanding | <0.5% | Based on 7,982,568 shares outstanding |
| Scheduled initial grant | $31,250 | Pro-rated equity grant by end of May 2025 |
| Director stock ownership guideline | 3.0x annual base cash retainer | Must meet within 5 years of appointment |
| Guideline achievement status | No (not yet achieved) | Newly appointed; five-year window applies |
| Hedging/Pledging | Prohibited | Insider trading policy prohibits hedging/pledging/short sales |
Insider Trades
| Date | Form | Transaction | Notes |
|---|---|---|---|
| None disclosed | — | — | Proxy references Forms 4 for other directors; no transactions disclosed for Al Kuwari; he held no shares as of Apr 28, 2025 . |
Governance Assessment
- Board effectiveness: Al Kuwari serves on all three key committees (Audit, Nominating/Governance, Compensation), each comprised entirely of independent directors, signaling strong governance engagement and independence .
- Independence & alignment: Committee independence determinations and anti-hedging/pledging policy strengthen alignment; he currently holds no shares but has a pro-rated equity grant scheduled and five years to meet 3x-retainer ownership guidelines .
- Attendance & engagement: Company standards require attendance at Board/committee/annual meetings; 2024 attendance met thresholds, and Al Kuwari signed the Audit Committee Report (indicative of participation post-appointment) .
- Pay structure: Director pay is a mix of fixed cash retainers and time-vested equity; no performance-linked metrics for directors (equity vests in one year), which is simple and transparent but offers limited pay-for-performance for directors .
- Conflicts/related party: Company reported no related party transactions in 2024; governance policies include conflict-of-interest, anti-corruption, and rigorous committee charters; no disclosed dealings involving Al Kuwari’s external roles .
RED FLAGS
- Additional “Special Projects” director compensation was created and paid in fiscal 2024 (not to Al Kuwari), which can be shareholder-sensitive if used broadly without clear criteria; monitor future disclosures for scope and governance around such awards .
- Ownership guideline shortfall (not yet achieved) is expected for a new director; track progress toward the 3x retainer requirement and future equity grants to assess alignment trajectory .
Overall signal: Seasoned MENA energy operator with committee breadth and independence, aligned by anti-hedging/pledging policy and ownership guidelines; monitor ownership build, any future special-project fees, and potential external interlocks, though none were disclosed in 2024 .