Acting CEO Mohamed Al Fahim quits UAE's Arabtec

Sources claim Al Fahim is 'struggling' to juggle his roles as Arabtec's CEO and head of finance at International Petroleum Investment Company, Aabar's parent firm

Mohamed Al Fahim has reportedly left Arabtec.
Mohamed Al Fahim has reportedly left Arabtec.

Dubai's Arabtec has reportedly temporarily replaced its chief executive officer with an existing board member. 

Hasan Ismaik, once Arabtec's biggest shareholder and former CEO, quit the company following a dispute with Abu Dhabi's state fund Aabar, which went on to replace Ismaik as Arabtec's largest holder. 

Acting CEO Mohamed Al Fahim, who was appointed to his role in an interim charge after Ismaik's June 2014 exit, has resigned from the job. 

Al Fahim will continue to remain on Arabtec's board. 

Sources told Reuters Al Fahim has been "struggling" to fulfil his role at Arabtec alongside his responsibilities as head of finance at International Petroleum Investment Company (IPIC), which is Aabar's parent firm. 

Saeed Al Mehairbi or Mohamed Al Mehairi will take over as acting CEO, the report added. 

 

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