Drake & Scull chairman resigns

Obaid Bin Touq resigned along with another board member, Khamis Buamim.

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© Drake & Scull International

The chairman of Drake & Scull International (DSI) has resigned.

According to a filing on Dubai Financial Market, the chairman, Obaid Bin Touq, resigned along with another board member, Khamis Buamim.

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The departures come soon after DSI terminated its group CEO Tawfiq Abu Soud, a couple of weeks back, after he was just four months at the company, as the firm posted a record loss of $1.23bn.

The company stated in the bourse filing that the Board "will elect new members soon".

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