Search DubaiPRNetwork.com

Home >> Others

Drake & Scull's new Board of Directors elects Abdulla Atatreh as Group Chairman & Ahmed Saeed Al Hamiri as Vice Chairman

Wednesday, September 13, 2017/ Editor -  

Share

Home >> Others

UAE, September 13, 2017- Drake & Scull International PJSC, a regional market leader in engineering and construction services, has announced that its newly-elected Board Members have convened for the first time. The Board ratified a series of procedural decisions necessary for the company to conduct business as required and chose new committee members from among its ranks. The second General Assembly Meeting convened earlier on the 9th of September 2017 and ratified the appointment of the new Board Members and elected additional Members to fill the vacancies resulting from the resignation of the former Board Members.

During today’s meeting, the Board elected Abdulla Atatreh as the new Chairman; Independent Member Ahmed Saeed Al Hamiri as Vice Chairman; and Abdulla Fareed Algurg as new Board Member. Algurg replaces the vacant seat of Majid Al Ghurair who resigned during the recent General Assembly Meeting held on the 9th of September 2017. At the executive level, Board Member Mohammed Atatreh was appointed as DSI’s new Managing Director. Members of DSI’s Audit, Nomination, Remuneration, and Investment Committees and the Secretary of the Board of Directors have been appointed as well.

During its inaugural meeting, the Board emphasized the completion of DSI’s capital restructuring program as a top priority to boost liquidity and stabilize the business. It also concurred on establishing a clear strategy for recovery and growth that will capitalize on the Group’s healthy project pipeline, industry stature, and the bullish industry outlook for the region.

Abdulla Atatreh, Chairman, Drake & Scull International PJSC, said: “The first official act of the new Board of Directors is to position the Company for new growth by establishing and following strict governance standards across all operating sectors to ensure consistent transparency, control and quality. We have also strategically appointed people that embody our vision of renewed growth for DSI. We want to adopt the right corporate mindset to ensure the swift and efficient completion of the Group’s turnaround strategy, which is currently in the final stages of the capital restructuring phase. We assure our partners, customers and all our other stakeholders that we will steer the DSI towards new and exciting opportunities to advance the Group’s industry leadership.”

The Board’s immediate goals include further organizational restructuring to achieve higher levels of efficiency, synergy and resilience. It is currently planning additional executive appointments to support DSI’s comprehensive turnaround strategy.  


Previous in Others

Next in Others


Home >> Others Section

Latest Press Release

BCG Report Reveals the Six Imperatives to Empower Women Leaders of Tomorrow in t ...

Azure Beach opens its doors taking guests straight to the heart of the Mediterr ...

Technology not a Substitute for but a Value Add to Business

Fifth HKTDC Lifestyle Expo in Dubai Opens Monday

“Mohammed bin Rashid Space Centre” participates in the 68th International Astron ...

Weekend Max Mara : The Pasticcino Bag - Fall/Winter 2017

Australian University Holds A 50th Anniversary Celebration in Dubai

Dubai Health Authority Highlights Humanitarian Initiatives to Help Patients with ...

Airbus Inaugurates Its A330 Completion & Delivery Centre in China

Transforming Aviation Through Disruptive Innovation

Technology: The Key Ingredient for today's F&B Industry

Huawei CBG supports the Middle East Innovation Agenda by bringing cutting-edge i ...

It's time to #CelebrateU – with 1 Million Upoints!

Etihad Airways Becomes First Airline in Region to Offer Automated Credit Card Pa ...

Dubai Cares reiterates its commitment to ‘Education in Emergencies' on the sidel ...

Full Steam Ahead as India's F&B Market Grows 24% Per Annum: GulfHost 2017 Opens ...

SOUQ.com partners with Honor to bring the beautifully brilliant Honor 9 exclusiv ...

The Academic Arrangement Between Wise Indian Academy and Bhavans

Malabar Gold & Diamonds recognized as the ‘Superbrand' 5th time in a row by Supe ...

QNET Celebrates 19th Anniversary At V-UAE 2017 In Dubai