The board of Arabtec Holding, the Dubai-listed construction giant, has announced the appointment of Hamish Tyrwhitt as the company’s new chief executive officer, with effect from November 28, 2016.
Well known within the construction industry, Tyrwhitt has previously worked for Leighton Holdings for the last 27 years. He had held a number of positions in Australia and Asia, before being appointed as Leighton’s CEO from 2011 to 2014. In 2015, he then became CEO of Asia Resource Materials, an Indonesian coal mining company which is listed in London.
Earlier this year, he was appointed as CEO of interiors contractor Depa Group in April. It is expected that Tyrwhitt will retain his existing responsibilities with Depa Group, while also handling his new role as CEO of Arabtec Holding.
“Hamish has a distinguished career in the construction industry,” said Mohamed Al Rumaithi, chairman of Arabtec.
“He has the experience necessary for Arabtec to further strengthen the company’s strategic and financial positioning and achieve its full growth potential. We are confident that Hamish’s leadership will allow Arabtec to move forward to a successful and sustainable future.”
“I would like to convey the Board’s thanks to Saeed Al Mehairbi who has been acting CEO and has guided Arabtec successfully through the tough environment that has affected the construction industry. Saeed will continue to serve as a Director of the Arabtec Board,” Al Rumaithi added.
“Fundamentally Arabtec is a strong company with a great track record of achievements stretching back over the past 40 years. I am looking forward to taking the company forward and capitalizing on the many opportunities available to the Arabtec Group,” Tyrwhitt said in a statement released by the construction giant.
Arabtec Holding is one of the largest construction companies in the Middle East, with nine principle subsidiary companies operating under its umbrella. The Group is currently implementing a series of restructuring and cost reduction initiatives.
Arabtec generated revenues of $1.63 billion in the first nine months of 2016, an increase of 17% over the same period last year. The company has also reported revenues of $544.5 million in the third quarter of this year, a 25% rise compared to the same period last year.
Arabtec’s backlog of current and future projects stands at $5.44 billion.