{"id":29341,"date":"2016-10-10T15:39:03","date_gmt":"2016-10-10T08:39:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=29341"},"modified":"2016-10-10T13:59:39","modified_gmt":"2016-10-10T06:59:39","slug":"drake-scull-appoints-new-chief-executive","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/drake-scull-appoints-new-chief-executive\/","title":{"rendered":"Drake & Scull appoints new chief executive"},"content":{"rendered":"


\nKhaldoun Tabari, the longstanding leader of Drake & Scull International is to stand down as chief executive the company said this morning.Mr Tabari, who bought a majority stake in the UAE based international arm of UK construction company Drake & Scull in 1988 and purchased the remaining stake a few years later before floating the company in 2008 on the DFM, will be replaced by the company’s chief operating officer Wael Allan.In a statement to the Dubai bourse, DSI said that Mr Allan would assume the new role from October 10, marking “the final phase of a six-month management transition process initiated with his appointment as (COO) in the first half of the year.”Drake & Scull said that 66-year old Mr Tabari would continue to serve as a non-executive board member, member of the executive committee and vice chairman. He currently owns 8.24 per cent of company shares.In August DSI announced that it was in the process of changing its leadership structure after the company reported a Dh207.6 million second-quarter loss compared with a Dh10.3m profit for the same period a year earlier as a slowdown in the Middle East construction industry hit DSI hard.”I believe this is the right time to hand over to Wael Allan and the senior team that will now chart the future course of the company,” Mr Tabari said in a statement to the DFM.Before his appointment at DSI, Wael Allan worked as chief executive for Arcadis Middle East.Shares in DSI rose 1.81 per cent in early trading this morning on the news.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Drake & Scull appoints new chief executive<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Khaldoun Tabari, the longstanding leader of Drake & Scull International is to stand down as...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-29341","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7Df","jetpack-related-posts":[{"id":57520,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-drake-scull-chairman-sells-stake-at-dubai-contractor\/","url_meta":{"origin":29341,"position":0},"title":"Former Drake & Scull chairman sells stake at Dubai contractor","date":"June 12, 2017","format":false,"excerpt":"\r The former Drake & Scull chairman Khaldoun Tabari has sold his stake in the contractor Drake & Scull to the company pledging to put Dh500 million of new money into the business.Mr Tabari is understood to have completed a transaction to sell his remaining stake in the Dubai-based contractor\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57616,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-drake-scull-vice-chairman-sells-stake-at-dubai-contractor\/","url_meta":{"origin":29341,"position":1},"title":"Former Drake & Scull vice-chairman sells stake at Dubai contractor","date":"June 12, 2017","format":false,"excerpt":"\r The former Drake & Scull vice-chairman Khaldoun Tabari has sold his stake in the contractor Drake & Scull to the company pledging to put Dh500 million of new money into the business.Mr Tabari is understood to have completed a transaction to sell his remaining stake in the Dubai-based contractor\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22943,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-drake-scull-blames-cancelled-contracts-and-tough-saudi-market-for-second-quarter-loss\/","url_meta":{"origin":29341,"position":2},"title":"Dubai's Drake & Scull blames cancelled contracts and tough Saudi market for second quarter loss","date":"August 15, 2016","format":false,"excerpt":"\r Drake & Scull International (DSI) slipped to a loss of Dh207.6 million during the second quarter of 2016 (Q2 2015: Dh6.1m profit) as revenue dropped by 37 per cent year-on-year to Dh805m.The Dubai-based contractor blamed \"contract cancellations and additional one-off provisions\" for its plight, stating that the majority of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29385,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-era-for-dsi-as-tabari-steps-down\/","url_meta":{"origin":29341,"position":3},"title":"New era for DSI as Tabari steps down","date":"October 10, 2016","format":false,"excerpt":"\r Shares in embattled Dubai contractor Drake & Scull International (DSI) posted their largest one-day gain in five months after the company announced that Khaldoun Tabari, the long-standing leader of DSI is to stand down as the chief \u00adexecutive. DSI shares jumped on the Dubai Financial Market to close up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58282,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/drake-scull-confident-on-debt-restructuring\/","url_meta":{"origin":29341,"position":4},"title":"Drake & Scull confident on debt restructuring","date":"June 19, 2017","format":false,"excerpt":"\r Drake & Scull International (DSI) will look to restructure its debt pile, which stood at Dh2.44 billion at the end of March, through the issue of a new sukuk or a syndicated loan, the company's acting chief financial officer Firas Kalthoum said on Sunday.Mr Kalthoum, whose appointment was announced\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9822,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-efs-in-talks-to-buy-cleaning-firm-in-india\/","url_meta":{"origin":29341,"position":5},"title":"Dubai's EFS in talks to buy cleaning firm in India","date":"April 3, 2016","format":false,"excerpt":"\r \r EFS Facilities Services, a Dubai-based facilities-management company, is on the verge of acquiring a cleaning company in India that will boost it in size ahead of a potential IPO.The EFS chief executive, Tariq Chauhan, said the company was in the latter stages of negotiating the deal, which would\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/29341"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=29341"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/29341\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=29341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=29341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=29341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}