Drake & Scull's chairman steps down

Dubai-based contractor Drake & Scull International (DSI) said its chairman Majid Saif Al Ghurair has stepped down from his post, citing personal reasons. This comes close on the heels of the sacking of the company's CEO Wael Allan. DSI will elect a new chairman and vice chairman at the company's upcoming board of directors meeting, the company said in a statement posted on the Dubai Financial Market (DFM), on Sunday.

The Dubai-based contractor had earlier elected four new board members to fill the vacant positions, including the one left by then-executive vice chairman and CEO Khaldoun Al Tabari, in an assembly meeting on Saturday (September 10). The new board members, Ahmed Al Kilani, Abdulla Atatreh, Ahmed Saeed Al-Hamiri and Saad Albastaki, will complete the term of their predecessor, the statement added.