Nakheel appoints Manchanda as CEO

Indebted Dubai developer makes Sanjay Manchanda full-time boss of firm
Dubai developer Nakheel has appointed Sanjay Manchanda as CEO.
By Reuters
Wed 10 Oct 2012 02:29 PM

Dubai developer Nakheel, whose flagship projects include islands in the shape of palm trees, has appointed Sanjay Manchanda as CEO, the company said in a statement on Wednesday.

Manchanda had been acting CEO since June 2011, prior to which he was seconded to the firm as chief financial officer and played a leading role in the company's financial restructuring.

Nakheel, a unit of Dubai World, was forced to separately negotiate a restructuring agreement with creditors, after running into debt troubles in the wake of the global economic downturn and a collapse of Dubai's property market.

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