Abu Dhabi: Arkan Building Materials Co. PJSC (‘Arkan’) today announced that Abdellatif Sfaxi, Chief Executive Officer, has resigned to pursue other career opportunities. Arkan’s Board of Directors have appointed Eng. Abdelaziz Asad, Arkan’s Chief Operating Officer, as Acting Chief Executive Officer.

Mr. Sfaxi will continue to work closely with Eng. Asad for the next three months to ensure a smooth transition. Despite the challenging market environment for the construction industry, the business continues to perform well, with a broad portfolio of products and a strong order book.

Eng. Jamal Salem Al Dhaheri, Chairman of Arkan, said: “On behalf of Arkan’s Board of Directors, I would like to thank Mr. Sfaxi for his 12 years of service to the Company. During his tenure as CEO he has reinforced Arkan’s market leadership, driven a broader product diversification, helped open new markets with innovative product solutions and driven efficiencies to address the challenging market environment in recent years.

Eng. Al Dhaheri continued: “Eng. Asad is well suited for the role of Acting CEO at Arkan given the many years he spent in senior management roles across the business.  He will be supported by a strong executive management team enabling him to lead the business in the best interests of all stakeholders, positioning the Company for the current market cycle and future economic recovery.”

Eng. Asad has nearly 30 years of experience in the building materials sector. Since he joined Arakan in 1991 he has held a wide range of senior management roles across Arkan.

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For enquiries, please contact:
Brunswick Group
Radwa El Taweel
Phone: +971 (0)2 234 4600
Email: arkan@brunswickgroup.com  

About Arkan

Arkan Building Materials Co. PJSC (ADX: ARKAN) is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy. Arkan is a public joint stock company specialising in manufacturing of building and construction products in the UAE. Arkan’s vision is to build a large integrated building products business that serves the local and regional construction industries. Arkan’s portfolio companies include the Al Ain Cement Factory, Emirates Blocks Factories, ANABEEB and Arkan Dry Mortar. For more information, please visit our website: www.arkan.ae 

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