Drake & Scull chairman and board member resign amid investigation - The National

Drake & Scull chairman and board member resign amid investigation - The National:

Drake & Scull International said its chairman and another board member resigned, as the UAE’s financial regulator investigates the ailing Dubai contractor’s finances after years of losses.

Chairman Obaid Bin Touq – who was appointed to the post in December – and board member Khamid Buamim resigned from the company, according to a filing to the Dubai Financial Market, where its shares were traded.

DSI thanked the chairman and board member “for their efforts during the tenure of their membership of the board” in the statement. The board of directors will elect new members soon, it added.