Drake & Scull International announced the resignation of Khaldoun Tabari from his post as the Chief Executive Officer (CEO) and the appointment of Wael Allan, currently serving as the Chief Operating Officer (COO) as the companys new Group Chief Executive Officer (CEO).
Wael will assume the new role on the 10th of October 2016, the engineering, procurement, construction firm said in a statement, marking the final phase of a six-month transition process initiated with his appointment as (COO) in the first half of the year.
Tabari submitted his resignation to the board in August 2016 for approval until the new CEO appointment was finalised. He will continue to serve DSI as a Non-Executive Board Member, Member of the Executive Committee, Vice-Chairman and a major shareholder.
Wael Allan is an industry veteran with more than 26 years of global management experience spanning EPC and construction across USA, Europe, Far East and the Middle East. Prior to his appointment at DSI, he served as the CEO for Arcadis Middle East, and progressed through senior management roles for reputed firms including Hyder Consulting, Skanska USA Buildings, Washington Group International and Raytheon Engineers and Constructors, amongst others.
Khaldouns valuable contribution towards DSIs remarkable growth continues to inspire us and has laid the foundation of our future growth path. We are pleased to have him continue to lend his expertise and wisdom as the Vice-Chairman in guiding the company during and after the transition to the new management structure, said Majid Al Ghurair, Chairman of DSI.
I am confident that Wael Allans vision and commitment will help DSI emerge stronger, leaner and more efficient through these challenging times, drawing on his considerable 26 years of global engineering and management experience.
Khaldoun Tabari said: As we mark 50 years of our Middle East operations, I believe this is the right time to hand over to Wael Allan and the senior team that will now chart the future course of the company. I believe that our fundamentals remain robust and our clients and partners continue to value our experience and pioneering innovations in our key markets.
I would like to wish Wael and our employees well for the exciting period ahead, and thank our board, our investors and stakeholders and our employees for their support and dedication which inspired and empowered our growth and success.