Embattled Dubai-based Contractor Drake and Scull International (DSI) Replaces its Chief Financial Officer

Former CFO Mohamad Ghanem was laid off from the company in April

In June, DSI announced that Shafiq Abdelhamid was appointed chairman of its board, several weeks after Obaid Khadim Bin Touq Al Marri resigned from the role.

By Bernd Debusmann Jr

Wed 17 Jul 2019 12:10 PM

Embattled Dubai-based contractor Drake and Scull International (DSI) has replaced its chief financial officer, according to a statement filed to the Dubai Financial Market (DFM).

“We would like to inform you that the company appointed Mr. Saed Saabneh as new Group Chief Financial Office to replace the previous CFO,” the statement said.

In June, DSI announced that Shafiq Abdelhamid was appointed chairman of its board, several weeks after Obaid Khadim Bin Touq Al Marri resigned from the role.

Additionally, the board also appointed a new member of the audit committee, Abdallah Al Matrooshi, to replace a resigned member.

In April, the Dubai-based contractor fired CEO Tawfiq Abu Soud just four months after he was appointed to the job. The April 24 board meeting also saw the departure of CFO Mohamad Ghanem.

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