Dubai-Mubasher: Drake & Scull International (DSI) on Sunday announced that chairman and board member Majid Saif Al Ghurair has resigned for personal reasons.

The board will elect a new chairman in the next meeting, according to a company statement to the Dubai Financial Market (DFM).  

DSI stated in mid-August that board members agreed on the immediate dismissal of the CEO Wael Allan.

The company announced that it suffered a loss at the end of the second quarter of 2017. Meanwhile, DSI’s losses increased to reach AED 1.03 billion in the first six months of 2017 compared to AED 216.33 million in the same half in 2016.