Mubasher: Kuwait Remal Real Estate (Remal) appointed Khalifa Abdullah Ali Al Nassar as the company’s chairman and Ehab Abdul Hakeem Mahmoud as the deputy chairman and CEO after a secret ballot.

Radley Ran Ravin, Abdulrahman Al Kandari, and Yasir Mahmood were elected as board members, the company announced in a filing to Boursa Kuwait on Thursday.

There is no direct negative impact from the decision on the financial position of the company, Remal confirmed.

Earlier this week, Remal announced the resignation of Dherar Al Nassar, the previous chairman, along with two board members, namely Khalifa Al Ghanem and Hamad Al Barrak.

The resignations came in parallel to announcing a drop in losses by 0.7% loss in H1-17 at KWD 536,500, as compared to KWD 540,200 in the year-ago period.

At Thursday’s close, Remal’s stock rose 0.57% to 70.4 fils, after trading 72,600 shares worth KWD 4,730.