Revised Statement- Depa Limited announces Resignation of Chief Executive OfficerOct 7 ,2013
Depa Limited announces Resignation of Chief Executive Officer
Dubai, UAE; 7th October 2013: Depa Limited, one of the world’s leading interior contracting companies, announces today that Mohannad Sweid has resigned from his role as, Chief Executive Officer and member of the Board of Directors for personal reasons. The resignation was approved by the Board of Directors and will take place with immediate effect.
Nadim Akhrass has been appointed acting Chief Executive Officer. Mr Akhrass joined Depa in 1998 and is currently CEO of Depa’s Dubai Regional Office. He has over 17 years of experience in the engineering and the construction industry. An internal and external search for a permanent CEO will commence shortly.
Hasan Abdullah Ismaik, Chairman of Depa Limited, said: “The Board of Directors would like to thank Mohannad for his years of service to the Company he co-founded and led as Chief Executive.”
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ABOUT DEPA LIMITED
Depa Limited is a leading interior contracting company in the Middle East, North Africa and Southeast Asia regions. Operating principally in the luxury fit-out industry, its main areas of business cover luxury hotels, infrastructure and public sector amenities such as hospitals and airports, high-end residential properties, retail outlets, as well as yachts. Depa is listed on the NASDAQ Dubai (ticker DEPA) and has Global Depositary Receipts on the regulated market for listed securities of the London Stock Exchange plc (ticker DEPA and DEPS).