Dubai – Mubasher: Drake and Scull International (DSI) on Thursday announced terminating the services of its CEO Tawfiq Abu Soud.
DSI’s board of directors also approved the termination of the services of chief financial officer (CFO) Khaled Jarrar and chief legal officer Mohamed Ghanem, according to a statement to the Dubai Financial Market (DFM).
The company will be managed by an executive committee comprised of three executive managers until the appointment of replacements, the statement added.
In addition, the board approved appointing Fadi Saba as the board secretary and chief legal officer of the company.
In November 2018, the DFM suspended trading on DSI’s shares after recording losses of AED 662.9 million during the first nine months of 2018, compared to AED 1.22 billion in the year-ago period.
