Dubai  – Mubasher: Arabtec Holding has appointed Wail Farsakh, the group's chief operating officer (GCOO), as the CEO to replace Peter Pollard, according to a press release on Wednesday.

With more than 30-year experience in the UAE firstly as a structural engineer, then, as a general manager, Farsakh, holding a bachelor and a master degree in civil engineering from the University of Iowa and an MBA from Bradford University, has developed several marine, civil, roads, retail, and residential projects.

Meanwhile, the group's board announced Najeh Awad as the new acting chief financial officer to benefit from his 27-year experience in finance, risk, investments, and operations.

It is worth mentioning that in 2019, the group logged AED 774.499 million in net losses attributable to the owners of the parent, versus AED 256.299 million in net profits in 2018.