| DUBAI, April 16
DUBAI, April 16 Dubai-listed builder Arabtec
Holding has appointed Peter Pollard as group chief
financial officer (CFO), sources told Reuters on Sunday.
Pollard's appointment comes days ahead of the company's
shareholder meeting on Tuesday, in which Arabtec will be seeking
investor approval for its 1.5 billion dirhams ($408.39 million)
Pollard, who will be overseeing the company's
recapitalisation programme, will succeed acting group CFO Ravi
Murthy, according to three sources, declining to be identified
because the matter is not public.
Murthy, who was appointed acting group CFO in July 2015,
will move as chief financial officer for the company's
subsidiary, Arabtec Construction, one of the sources said.
Loss-making Arabtec has been struggling for more than two
years in a depressed Gulf market for infrastructure projects,
its problems exacerbated by internal strife among shareholders
and several senior management changes.
Prior to his new role, Pollard was managing director at
British-listed outsourcing company Serco Group in Hong
Representatives for Arabtec did not respond to calls when
contacted by Reuters.
($1 = 3.6730 UAE dirham)
(Editing by Louise Heavens)