Dubai-listed DSI appoints Saed Saabneh as group CFO

Saabneh will replace Khaled Jarrar, who exited the company alongside its chief excutive and legal officers

DSI has appointed a new CFO.
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DSI has appointed a new CFO.

Dubai Financial Market-listed (DFM) contractor Drake & Scull International (DSI) has appointed Saed Saabneh as its group chief financial officer as part of its ongoing restructing drive.

In a stock market missive undersigned by the DSI’s secretary, Fadi Saba, the contractor said that Saabneh would replace former CFO Khaled Jarrar, who was fired by the company’s board, along with then-chief executive and legal officers, Tawfiq Abu Soud and Mohamad Ghanem, in April 2019.

DSI’s board chairman Obaid Khadim Bin Touq Al Marri, and board member Khamis Buamim, also announced their resignation from DSI — which posted a loss of 1.4bn (AED5bn) for 2018 — in a DFM missive on 7 May, 2019.

They were respectively replaced by Fahem Alshehhi and Salem Alshamsi.

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