Dubai: Arabtec Construction now has a new CEO, as a tight project market and disappointing results seem to have led to the departure of the previous incumbent, Boyd Merrett.

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The Group’s chief operating officer Wail Farsakh assumes the role of the CEO, the company said in a statement on the Dubai Financial Market. Arabtec recorded revenues of Dh2.19 billion in the second quarter against Dh2.39 billion a year earlier. Profits for the period came to Dh26.1 million. Merrett’s departure as Arabtec works on a possible merger with Trojan Holding, headquartered in Abu Dhabi.


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