Arabtec Holding appoints Hamish Tyrwhitt as CEO
Hamish Tyrwhitt has been appointed to the position of chief executive officer of UAE-headquartered Arabtec Holding
Arabtec Holding has appointed Hamish Tyrwhitt as its chief executive officer.
Tyrwhitt will take over from acting CEO, Saeed Al Mehairbi, who will continue to serve as director of the company’s board.
In April 2016, Tyrwhitt was appointed CEO of Depa Group, the fit-out arm of Arabtec. He will retain his existing responsibilities as CEO of Depa in addition to taking over as Arabtec’s chief.
HE Mohamed Al Rumaithi, chairman of Arabtec, commented: “Hamish has a distinguished career in the construction industry. He has the experience necessary for Arabtec to further strengthen the company’s strategic and financial positioning, and achieve its full growth potential.
“We are confident that Hamish’s leadership will allow Arabtec to move forward to a successful and sustainable future.”
Commenting on his latest appointment, Tyrwhitt added: “Fundamentally, Arabtec is a strong company with a great track record of achievements, stretching back over the past 40 years. I am looking forward to taking the company forward and capitalising on the many opportunities available to the Arabtec Group.”
Prior to joining Depa, Tyrwhitt spent 27 years with Leighton Holdings. During this tenure, he held various senior positions, including CEO from 2011 to 2014. In March 2015, he became CEO of Asia Resources Minerals, an Indonesian coal mining company listed in the UK.
In reference to the achievements of Arabtec’s former acting CEO, HE Al Rumaithi said: “I would like to convey the board’s thanks to Saeed Al Mehairbi, who has been acting CEO, and has guided Arabtec successfully through the tough environment that has affected the construction industry.”
Arabtec Holding, which comprises nine principle subsidiary companies, has implemented a series of restructuring and cost-reduction initiatives since the resignation of former CEO, Hasan Ismaik, in June 2014.
The company reported a net loss of $61m (AED225.5m) in Q3 2016. Its revenue for this period saw a year-on-year rise of 24.7%, growing to $544m (AED2bn).