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DUBAI, Nov 29 (Reuters) - Dubai construction firm Arabtec Holding
ARTC.DU
said on Tuesday it appointed Hamish Tyrwhitt as its new chief executive.
Tyrwhitt, who served as chief executive of Australian contractor Leighton Holdings, since rebranded CIMIC Group
CIM.AX
, between 2011 and 2014, joined Arabtec on Nov. 28, the company said in a statement.
Tyrwhitt will retain his current position as Group CEO of Dubai-based interior contractor Depa Group
DEPA.DI
.
Arabtec and Depa have signed a "settlement and co-operation agreement," which positions Depa as one of Arabtec's preferred partners, Depa said in a bourse statement.
Tyrwhitt replaces acting Arabtec CEO Saeed Mohamed Al Mehairbi, who will continue to serve on the company's board.
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Arabtec reported a net attributable third-quarter loss of 225.5 million dirhams ($61.4 million) on Nov. 14.
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The firm hired restructuring advisory firm AlixPartners to help it strengthen its capital structure and reform its business earlier this year, Reuters reported on April 24.
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($1 = 3.6729 UAE dirham)
(Reporting By Alexander Cornwell; Editing by Gopakumar Warrier) ((alexander.cornwell@thomsonreuters.com;))
DUBAI, Nov 29 (Reuters) - Dubai construction firm Arabtec Holding
Tyrwhitt, who served as chief executive of Australian contractor Leighton Holdings, since rebranded CIMIC Group
Tyrwhitt will retain his current position as Group CEO of Dubai-based interior contractor Depa Group
Arabtec and Depa have signed a "settlement and co-operation agreement," which positions Depa as one of Arabtec's preferred partners, Depa said in a bourse statement.
Tyrwhitt replaces acting Arabtec CEO Saeed Mohamed Al Mehairbi, who will continue to serve on the company's board.
Arabtec reported a net attributable third-quarter loss of 225.5 million dirhams ($61.4 million) on Nov. 14.
The firm hired restructuring advisory firm AlixPartners to help it strengthen its capital structure and reform its business earlier this year, Reuters reported on April 24.
($1 = 3.6729 UAE dirham)
(Reporting By Alexander Cornwell; Editing by Gopakumar Warrier) ((alexander.cornwell@thomsonreuters.com;))