Arabtec names new acting CEO
Another board member appointed to take over post; no reasons given for the change
Dubai: Dubai-listed builder Arabtec said on Tuesday its board accepted the resignation of acting chief executive Mohamed al-Fahim and appointed a replacement.
The announcement confirmed a Reuters story on Monday quoting sources as saying the company had replaced its acting chief executive and put another board member in temporary charge.
The loss-making firm, whose largest shareholder is Abu Dhabi state fund Aabar, appointed Arabtec board member Saeed al-Mehairbi as its new acting chief executive, it said in a bourse announcement.
The company did not give reasons for the change.
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