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 8357 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
Filorga Launches FLASH-NUDE Collection
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of th...
Maintain Healthy Skin Year Round
PopSockets launches a new collection with crystals from Swarovski, the must-have...
Free gold coins at Malabar Gold & Diamonds Festival
MIDO Baroncelli Lady Day & Night collection
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market
Interview with Asil Attar, CEO of Al Yasra Fashion
Holiday Gifting Made Easy with Wet n Wild Beauty Specials
Get Ready for Party Season with Lottie's new make-up hits
GAZOO Racing Wins Australia Rally at FIA World Rally Championship
Golden Mile Galleria's ‘A Cultural Flair' attracts hundreds of art lovers to Pal...
Festive Gift Sets from Bubble T
Tissot PR100 Lady Sport – Chic Glamourous Festive Season
Winter wool Christmas must- haves
Time For Enchanting Moments
Samsung Galaxy A9 – Designed to capture the world in its fullest
New 1948 Seamaster Watches Join the Ranks'
Michael Kors Collection Transeason 2019 Press Presentation
Chic and Stylish Wraps with a 3 in 1 effortless concept
Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Victory
9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Bus...
Tissot PR100 Lady Sport – Chic Sporty yet Feminine
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu
Five-Star Euro NCAP for Jaguar's Electric I-PACE
DKNY Launches (Limited Edition) Holiday 2018 Collection
Global Knowledge Index 2018 and The Future of Knowledge: A Foresight Report shin...
France Attractiveness Scoreboard 2018 Released
Dubai Shopping Festival Wednesday Specials at The Smile Bar
Dubai's Most Magical Festive Market Opens at Dubai Festival City Mall
Ring in a dazzling festive season at Ibn Battuta Mall
Raja Al Gurg is one of Forbes Magazine's 100 most powerful women in the world
Get Party Ready with Champion Cleaners
Nine winners honored by DQG for their innovative ideas at the 10th Global Contin...
Dubai Customs wins 3 awards from Ideas UK 2018
Jury Announced for Epson's First Ever Win-A-Robot Competition in Europe, The Mid...
Spinneys Dubai 92 Cycle Challenge | Road Closure Timings
New ACH145 Mercedes-Benz Style Cabin Model Highlights First Presence at MEBAA fo...
Al Hosn Now Open to the Public
No P-ain, No G-ain! Mega Musclemen Return to Dubai
ICAEW recognises Middle East's best finance professionals
Voting on UAE Superbrands 2019 Begins
It's a Wrap! The Second JLT Restaurant Awards Conclude with a Glitzy Ceremony At...
His Highness Sheikh Saud discusses collaboration with British Consul-General And...
CBUAE and Central Bank of China meet to Enhance Renminbi Clearing in the UAE
Young Emirati Champion Rashid Al Dhaheri Powers Ahead to Stunning Victory at the...
Arla Foods launches initiative with UAE Ministry of Education to promote healthi...
Abu Dhabi International Airport Becomes First Transport Hub to Harvest Energy an...
Zayed Book Award Longlist Announced for ‘Young Author' Category (2018 - 2019)
Ford's Desert Driving Tips, Episode 4: Driving Safely in the Desert