Galfar brings in new chief financial officer
Ram Mohan N. replaces former CFO, who left the firm in June
Oman-based Galfar Engineering & Contracting has announced the appointment of a new chief financial officer.
The company has appointed Ram Mohan N. as its new CFO. He is a Fellow of the Institute of Chartered Accountants of India and has four decades of experience, the company said in a statement to the Muscat Securities Market.
"We wish him a great career ahead with the organisation," it said.
He replaces former finance chief S. Muthukrishnan, who resigned from the firm in June. Muthukrishnanwas one of a number of senior figures who has departed from the business since its founder and managing director P Mohamed Ali was convicted on corruption charges in January after a court found that he had bribed a member of the Ministry of Finance, who also served as head of the tenders committee for state-owned oil firm Petroleum Development Oman.
Ali, a former head of the Oman Society of Contractors, has protested his innocence and has stated his intention to appeal the verdict.
The company, which achieved a turnover of $1bn in 2013, admitted in March that there had been "shortcomings" in its internal controls process in March and appointed accountancy firm KPMG to review the adequacy of its systems in March.