Drake & Scull International (DSI) said on Thursday that chief financial officer Feras Khalthoum had been appointed chief restructuring officer, a new post at the Dubai-listed construction firm.

The company has appointed PG Raut as its new CFO, replacing Khalthoum, it said in a bourse statement.

DSI did not provide details of the chief restructuring officer’s role.

The company, whose shares are among the worst performers in the Dubai stock index, has been lagging as a result of concern about its financial position, business outlook and the outcome of a probe into “violations” by previous management.