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Arabtec CEO replaced

|By Arabian Post Staff|Arabtec said its board accepted the resignation of acting chief executive Mohamed al-Fahim and appointed a replacement.

The loss-making firm, whose largest shareholder is Abu Dhabi state fund Aabar, appointed  Saeed al-Mehairbi as its new acting chief executive, it said in a bourse announcement.

The company has been in trouble for the past 18 months after former chief executive and then biggest shareholder Hasan Ismaik quit in the wake of a dispute between Aabar, while other senior staff  left with him.