Global Investment House - Khalid AlWazzan Resigns from Board

Update 27 April: GIH denies resignation story.  New post here.

AlQabas reports that Khalid AlWazzan is resigning from Global.  He's been on the Board for at least 10 to 12 years - and Vice Chairman for at least 2 to 3.  Ostensibly, stepping down now that the ship has sailed safely through the storm. 

Anyone out there with any thoughts on the reasons for his resignation, please post a comment.

The article also notes that GIH has been negotiating with creditors to participate in its capital raising exercise through a debt conversion.

And that other changes in the Board are expected following the capital raising.  

The Board is currently rather a select group of only five:  Ms. AlGhunaim, Mr. Al Wazzan, Shaykh Abdullah J.A. AlSabah,  Mazouk N. AlKharafi, and Alan Smith (an old China hand).