CEO at UAE's construction giant Arabtec makes an exit | Property – Gulf News
The UAE's biggest construction company, Arabtec, has let go of its CEO - Wail Farsakh. The company is currently in the liquidation process and changes at the top was something that the marketplace was talking about.
Farsakh had been in the saddle for the last year and had come in at a time when the company was still trying to arrest its slide into bankruptcy. There was a phase when it was felt that Arabtec would find strategic investors - and the money - to survive.
The liquidation when complete would represent the biggest such in UAE's corporate history. It will also be the biggest since the amended Bankruptcy Law came into effect.
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