Markets Dubai road toll operator appoints first CEO ahead of flotation By Reuters July 7, 2022 Creative Commons The Salik road toll system was launched in 2007, has eight toll gates, and 3 million vehicles are registered with it Dubai road-toll operator Salik has appointed Ibrahim Al Haddad as chief executive officer, it said on Wednesday, in a move that showed the company was moving closer to its planned flotation. Haddad’s appointment was made at Salik’s first board meeting since it became a public joint stock company on June 15, the firm said in a statement. It did not previously have a chief executive, so appointing one indicates progress towards the listing. Dubai’s deputy ruler, Sheikh Maktoum Bin Mohammed, announced plans in November to turn Salik, then a division of the Roads and Transport Authority (RTA), into a public company. Listing it and nine other government-linked entities was intended to boost stock market activity. The RTA in February hired Bank of America’s securities arm , Emirates NBD and Goldman Sachs to advise on the offering, sources told Reuters at the time. Haddad had held the role of commercial and investment director at the Roads and Transport Authority (RTA) for nine years, Salik said. The Salik road toll system was launched in 2007 by the RTA to ease traffic congestion on the Sheikh Zayed highway and shore up state revenues. Salik has eight toll gates, and 3 million vehicles are registered with it, according to the Dubai Media office.