Drake & Scull International announces new appointments as restructuring continues
Drake & Scull International (DSI) has announced the latest in a series of senior appointments and changes aligned with its ongoing efforts to restructure and streamline business operations.
DSI said it has appointed Ziad Makhzoumi as an advisor to the board of directors. Ziad was the CEO of Fakih IVF prior to joining the company.
Other senior key appointments and changes include Muin El Saleh, the new managing director of the company’s UAE operations; Dr Fadi Feghali as managing director for international operations; Musa Ibrahim, group chief legal officer; Ismail Mohammad as deputy general manager of GTCC in the UAE and Saher Ghazi Kamal as acting managing director for Saudi Arabia.
Earlier this month, Majid Saif Al Ghurair resigned from his position as chairman of the board of directors.
Al Ghurair is the latest in a string of high-profile departures from the company. In August, DSI terminated the services of its former chief executive officer, Wael Allan, and accepted the resignation of several board members, including that of former executive vice chairman, Khaldoun Al Tabari.
In Q2, the company recorded a $54.2 million net loss, a 12 percent year-on-year improvement compared to the corresponding period of 2016.
Mohammed Atatreh, group managing director of DSI, said: “Right now, Drake and Scull is implementing a comprehensive plan that will determine the company’s future direction. Our latest executive management appointments and changes are geared towards ensuring that we have highly capable leaders in place who can help implement our reorganisational efforts in the fastest and best way possible.”