Investcorp, a leader in alternative investment, said on Thursday that its executive chairman and chief executive Nemir Kirdar would retire on June 30, 2015 after more than 30 years leading the alternative investment firm.

Mohammed al-Shroogi, currently president of Gulf business at the Bahrain-based company, and Rishi Kapoor, chief financial officer, will be appointed co-CEOs from next July 1, subject to regulatory approval, a statement said.

Mohammed al-Ardhi, a non-executive board director since September 2008, will succeed Kirdar as executive chairman. – Reuters