Dubai, UAE, 19 February 2019: Drake & Scull International (DSI) announced the appointment of Khaled Jarrar as Group Chief Financial Officer, Mohamed Ghanem as Chief Legal Officer and Mike Grant as the Chief Restructuring Officer, in a Press communiqué.

The Board of Directors also announced that, going forward, the Restructuring Committee would be chaired by Obaid Bin Touq, Chairman of the Board of Directors, with the Restructuring Committee members being Khamis Buamim, Ahmad Kilani and Tawfiq Abu Soud, Group CEO, the communiqué said.

Commenting on the new appointments, Bin Touq said: “The Board of Directors has focused on rebuilding DSI’s leadership management team with industry professionals. The company is working with the relevant government authorities to obtain the necessary approvals, so as to be in a position to brief our shareholders on the restructuring plans at the upcoming General Assembly Meeting.”

Jarrar is a veteran of corporate finance and accounting and led DSI’s IPO efforts as the CFO in 2007/08 and has nearly 30 years’ international experience, the communiqué said. He holds a Sloan Master’s in leadership and Strategy from the London Business School, as well as a Bachelors of Business Administration in Accounting from the Cleveland State University, the communiqué further said.

Ghanem is an experienced law professional with over 15 years of experience in legal consultancy, litigation support, statutory and regulatory compliance, the communiqué said. He has significant experience in the construction, engineering and real-estate industries, having managed numerous arbitrations and legal cases relating to commercial disputes and joint ventures, the communiqué further said. He holds an MBA from Alexandria University, where he is currently a lecturer at the Faculty of Law and also serves as legal advisor and lecturer at the Dubai Real Estate Institute, the communiqué added.

According to DSI, Grant has extensive experience in the corporate restructuring arena for over 30 years and has led some of the largest and most complex restructuring projects internationally. The communiqué said he has a first degree in Civil Engineering, is a qualified Civil Engineer and holds an MBA, specialising in Finance, from London’s Cass Business School. The communiqué further said he has also completed the Advanced Management Programme at Harvard Business School. The communiqué added he is a Chartered Engineer, a Fellow of the UK Institution of Civil Engineers, a Fellow of the UK Association of Corporate Treasurers and a Member of the UK Institute for Turnaround.