Dubai-based contractor Drake & Scull appoints new CEO, CFO

Dubai contractor Drake & Scull International (DSI) has appointed a new CEO and COF, the company said in a statement to Dubai Financial Market on Monday.

Munir Mansour has been appointed as the new CEO, while Peter Lalor will now be the CFO of the company.

Mansour has over 40 years of industrial and contracting work experience in the UAE and was previously the managing director of Tariman Group for over 15 years. He has served on the board of Emirates Glass and Emirates Aluminum too.

Khaldoun Al Tabari, the former CEO of DSI, was arrested at Jordan airport in January based on an Interpol alert issued by the UAE.

Read: Former CEO of Dubai contractor Drake and Scull arrested in Jordan

The arrest followed Tabari’s failure to appear before Abu Dhabi’s Public Funds Prosecution over criminal charges filed by DSI. The charges included misappropriation of funds and misusing powers as CEO.

The new CFO Lalor meanwhile was the CFO of Al Naboodah’s International businesses and has been working in the Middle East for the last 14 years.

“After a thorough search, we are delighted that Munir and Peter have agreed to join the executive management team of DSI. They join us at a critical time as we proceed with finalizing the organizational and financial reorganization plan,” said Shafiq Abdul Hamid, chairman of the board of directors.

Earlier this year DSI requested for a financial reorganization process to be conducted under the supervision of the Financial Reorganization Committee (FRC), which in turn appointed Aaronite Partners FZ to oversee the financial reorganization and to assist in DSI reaching an agreement with its creditors in an out-of-court settlements.