{"id":52067,"date":"2017-04-17T16:39:06","date_gmt":"2017-04-17T09:39:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=52067"},"modified":"2017-04-17T14:54:32","modified_gmt":"2017-04-17T07:54:32","slug":"arabtec-appoints-new-finance-chief","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-appoints-new-finance-chief\/","title":{"rendered":"Arabtec appoints new finance chief"},"content":{"rendered":"


\nArabtec has announced the appointment of Peter Pollard as its new group chief financial officer.Mr Pollard joins Arabtec from the outsourcing firm Serco Group, where he has most recently been working as the managing director of its Hong Kong business.Before that, however, he worked in a number of senior financial positions within contracting and property companies in the UAE, Asia and Australia. He had previously worked as the chief financial officer at Leighton Contractors (now renamed CPB Contractors) at a time when Arabtec Holding’s chief executive Hamish Tyrwhitt was the chief executive of the Leighton Group.Mr Tyrwhitt said Mr Pollard “has a proven track record in our industry, and has previously guided companies through challenging periods with his financial acument and management skills”. “He will be instrumental in Arabtec’s strategy, overseeing the recapitalisation programme and the strategic road map laid out in recent months as we make strides building a successful and sustainable future for the group and its shareholders.”The company said Ravi Murthy, who has been the group’s acting group chief financial officer since July 2015, has stepped back from that post but will continue his role as the chief financial officer for its biggest subsidiary, Arabtec Construction.Mr Tywhitt said Mr Murthy had “helped to guide the company through a challenging period, and we are grateful for the hard work, commitment and strong leadership he demonstrated during this time”.Mr Pollard will work from Arabtec’s headquarters at Ipic Square in Abu Dhabi, where the company will hold its annual general meeting tomorrow when shareholders will vote on whether or not to approve a recapitalisation programme that should see it raise Dh1.5 billion through a rights issue and expunge Dh4.6bn of accumulated losses through a capital reduction exercise.The deal has the support of Arabtec’s largest shareholder, Aabar Investments, which currently holds a 36.11 per cent stake in the business. It has effectively underwritten the exercise by not only agreeing to subscribe to its own allocation but also to any unallocated shares not taken up by other shareholders.mfahy@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Arabtec appoints new finance chief<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Arabtec has announced the appointment of Peter Pollard as its new group chief financial officer.Mr...<\/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-52067","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-dxN","jetpack-related-posts":[{"id":36372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-appoints-hamish-tyrwhitt-as-new-chief-executive\/","url_meta":{"origin":52067,"position":0},"title":"Arabtec appoints Hamish Tyrwhitt as new chief executive","date":"November 29, 2016","format":false,"excerpt":"\r Arabtec has appointed as its chief executive Hamish Tyrwhitt, who was also recently made chief executive of Depa.In a statement to the DFM this morning, Dubai-listed Arabtec said that Mr Tyrwhitt had replaced the company's acting chief executive, Saeed Al Mehairbi, who will remain an Arabtec board member.Arabtec said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36346,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-appoints-new-chief-executive\/","url_meta":{"origin":52067,"position":1},"title":"Arabtec appoints new chief executive","date":"November 29, 2016","format":false,"excerpt":"\r Arabtec has appointed the recently appointed Depa chief executive Hamish Tyrwhitt as its chief executive.In a statement to the DFM this morning, Dubai-listed Arabtec said that Mr Tyrwhitt had replaced the company's acting chief executive Saeed Al Mehairbi, who will remain an Arabtec board member.Arabtec said that as well\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41690,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-adopts-new-risk-management-plan\/","url_meta":{"origin":52067,"position":2},"title":"Arabtec adopts new risk management plan","date":"January 24, 2017","format":false,"excerpt":"\r Arabtec has said that it is adopting a new risk management plan.In a statement to the Dubai Financial Market on Tuesday morning, the Arabtec chief executive Hamish Tyrwhitt said that the company had supported a new group-wide enterprise risk management plan at its board meeting on Monday.Arabtec shares were\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41682,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-adopts-new-risk-management-plan-in-bid-to-cut-costs\/","url_meta":{"origin":52067,"position":3},"title":"Arabtec adopts new risk management plan in bid to cut costs","date":"January 24, 2017","format":false,"excerpt":"\r Arabtec has said that it is adopting a new risk management plan as the company continues to cut costs in the wake of a major restructure.In a statement to the Dubai Financial Market on Tuesday morning, the Arabtec chief executive Hamish Tyrwhitt said that the company had supported a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51544,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capital-restructuring-will-allow-arabtec-to-focus-on-long-term-prospects-says-chief-executive\/","url_meta":{"origin":52067,"position":4},"title":"Capital restructuring will allow Arabtec to focus on long-term prospects, says chief executive","date":"April 11, 2017","format":false,"excerpt":"\r Arabtec Holdings's chief executive, Hamish Tyrwhitt, has said that he is confident the capital restructuring programme, for which the company will seek approval from shareholders next week, will allow the group \"to capitalise on the positive long-term outlook for the construction and engineering sector in our key geographic market\".\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58710,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-gets-go-ahead-for-capital-reduction\/","url_meta":{"origin":52067,"position":5},"title":"Arabtec gets go-ahead for capital reduction","date":"June 23, 2017","format":false,"excerpt":"\r The contractor Arabtec has announced that it has gained regulatory approval for the second phase of its share recapitalisation programme, which will see the number of shares in issue decline to 1.5 billion from 6.1 billion.In a statement to the Dubai Financial Market, Arabtec said Thursdaywould be the last\u2026","rel":"","context":"In "Property 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