Mubasher: Injazzat Real Estate Development’s board has accepted the resignation of the company’s CEO Faisal Fahad Al-Shaya, according to a bourse statement released on Tuesday.

The board recommended an ordinary general meeting for the election of a new board member for the remainder of the board’s term pending the approval of competent authorities.

It is worth noting that Injazzat’s profit went down by 23.3% year-on-year to KWD 2.71 million during the first nine months of 2019.