GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Others

 
  Share

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.  



Posted by : GoDubai Editorial Team
Viewed 7570 times
Posted on : Wednesday, September 13, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story :
Next Story :
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Bhima Jewellers inaugurates new store in Rolla, Sharjah
Mouawad Acquires The 51.38 Carat Dynasty Diamond From ALROSA
Panasonic's latest LUMIX DMC-TZ220 is the Ultimate Travel Companion
Summer Spirit
Instantly Refreshed Hair with HASK
Joyalukkas brings joy to hundreds around the world with summer gold bar giveaway
How to choose the right mascara
Kaya Skin Clinic's Expertise is pushing the Boundaries of Botox
Tissot Chrono XL NBA Team Collection Sporty Gets Smart
Build Your Perfect Skincare Routine with Essentials from Glambeaute.com
Hour Choice presents Coach Astor Collection
Joyalukkas adds a new destination for jewellery lovers in Al-Balad, Jeddah, KSA
Taresh Al Hashimi's Oud Concert Brings Stories from the UAE's Coast to Brazil
Creating #futureclassic: Swatch Launches Skin Irony Collection
Transform your look with the ‘Perfect Brows'
FALL 2018
Delicious Whole Cakes at Sophie's Café from AED99
13 Emirati Authors Launched into the Portuguese Book Market
Dual Front Camera and Artificial Intelligence Power the Next Generation Super Selfies
Head to Modhesh World for Summer Fun Before the School Run
Ferrari introduces the world's first low-bake paint technology
“The world is thirsty for an Arab superhero"
Huawei Consumer Business Group Announces 2018 H1 Business Results
Favourite florals: Bloom with our top floral picks from bebe
Scuderia Ferrari presents ASPIRE collection
Business Wear by Hugo Boss
This Eid gift your someone special from the Hour Choice Eid Special collections.
Introducing the GUESS Jeans Fall 2018 Collection
Never Run Out of Space for Those Joyful Summer Holiday Memories With Western Digital
The Marriott International cyclist team completes 600km R2A cycle challenge
Carl F. Bucherer Presents Adamavi Collection
Carl F. Bucherer's Global Brand Ambassador Li Bingbing and Her Carl F. Bucherer ...
This Eid gift your someone special from the Hour Choice Eid Special collections
Joyalukkas opens newest showroom in Kuwait at Farwaniya
The Rado HyperChrome Ultra Light
Calligraphy, etching and Palestinian embroidery: Learn it all at Tashkeel this S...
Cerruti 1881 MOLVENO timepiece and cufflinks
‘The Little Things' That Makes Summer All The More Enjoyable
Garment Grooming at its Finest with Champion Cleaners
Dubai Land Department supports strategic alliance between the UAE and China
Sharjah Takes ‘Year of Zayed' Celebrations beyond Borders
MEFMA reaffirms commitment to promote entrepreneurship & innovation across local...
The 2nd Edition of the Phanes Group Solar Incubator set to kick off 7th August 2018
Danube Properties' Dh550 million Lawnz project at International City, sold out i...
Big Android Breakthrough: Huawei's power packed GPU Turbo upgrade will turn you...
Emirates Intellectual Property Association leads unified efforts to promote adop...
The Sharjah Chamber of Commerce and Industry discusses cooperation with Malaysia
du LaLiga HPC Top Talents Arrive in Spain for 21-day Annual Scouting Camp
Hilton Launches New Platform Dedicated to Offering Guests Bespoke, Unforgettable...
Celebrate India's Independence Day with Sparkles of India