Company: Arabtec Holding
Country of residence: Australia
Arabtec Holding is undergoing its biggest capital restructuring programme after a dramatic fall in profit, share price and reputation. Hamish Tyrwhitt is leading the changes, including cost reduction initiatives. He was appointed CEO in November last year, as well as CEO of Depa Group, Arabtec’s fit-out arm, and has a mammoth task to fulfil. But he is already showing results: Arabtec has announced several new projects this year, including a coveted $100m contract to build the UAE’s pavilion at Expo 2020 Dubai; it has completed a $400m rights issue; and the share price has more than doubled since January.
Tyrwhitt previously worked for Leighton Holdings for 27 years including as CEO from 2011 to 2014, before the contractor’s new owners replaced the top management. He was then CEO of Asia Resource Materials, a London-listed Indonesian coal mining company, before moving to the UAE.