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

Alpha Assured Assistance (AAA) Loyalty Program to ramp up loyalty landscape in t ...

New Intelligent Huawei Phone Wows UAE's Most Stylish at Arab Fashion Week

ADFD, IRENA Open New Round of Funding for Renewable Energy Projects in Developin ...

Augmented Reality safety glasses eye Middle East debut at Intersec 2018

Huawei Unveils Proactive Security System at RSA 2017 Abu Dhabi to Build a Road t ...

Steel Alliance Against Counterfeiting: “Risks posed by counterfeiting put the wh ...

Schneider Electric at ADIPEC 2017: Real-time Data to Revolutionise Oil and Gas I ...

Dubai non-oil foreign trade increases by 13% year-on-year in the third quarter o ...

Fashion Forum by College of Fashion Design (CFD)

Six pairs of Emirati siblings marched together at Skyline's 27th Graduation Cere ...

Dubai Shines as Global Industry Descends on Vod Dubai International Jewellery Sh ...

Myths about Prostate Cancer

H.H. Sheikh Hamdan bin Zayed Al Nahyan Tours the Barakah Nuclear Energy Plant

PLAY FOR PEACE, Spread Good Vibes this Christmas

Runway Dubai Wrapped up an inspiring star studded event with iconic designer, Wa ...

UAE Exchange to Give Away AED 450,000 to Customers Over 45 days

Non-Muslims to secure inheritance distribution through RAK ICC registered Wills

Al Rawdah partners with SAP to implement ERP across all operations

Dubai Sports Council Championship for Football Academies set for a “bigger and b ...

Emirates Transport to launch the first electric-powered school bus in the region