Dubai: Dubai-based jewellery retailer Damas International Limited (Damas) Sunday appointed Anan Fakhreddin as chief executive of the company. He is also a member of the board of directors of Damas International Limited.
He inherits a company that is currently undergoing restructuring and sought a deal with creditors to reschedule debts.
"I will closely work with the board and look into each project on a case by case and decide on merit," Fakhreddin told Gulf News.
He said, he will assume duties next week once paperwork is completed.
Most recently, Fakhreddin served as the Dubai-based managing director for the Middle East and Turkey at the World Gold Council. Previously he worked with the Diamond Trading Company (a De Beers Group company) for nine years, covering the GCC region.
He started his professional career with American Express International and held the position of regional manager in Saudi Arabia. He holds a BA in Business Administration from Yarmouk University in Jordan.
Fakhreddin replaces Sanjay Kalsi, who held the position of interim acting chief executive officer of the company. Kalsi will resume his previous responsibilities as chief financial officer.
"Damas has a rich heritage of excellence across all its business lines, and this is the legacy we will look to build upon. I look forward to joining a team of highly specialised and motivated professionals to further enhance our product line and customer service channels, while identifying expansion opportunities in growth markets," Fakhreddin said in a statement. "I am confident that with the support and insight of my colleagues, we will continue to develop Damas as a global leader in the retail jewellery trade."
Damas recently entered a debt standstill agreement with banks as it worked through a restructuring plan, according to a financial statement released in December.
