Drake & Scull Reshuffles Board and Audit Committee
Drake & Scull International PJSC announces key board changes and audit committee reconstitution.
Summary
Drake & Scull International PJSC has appointed Khaled Owaidat to its board and reconstituted its audit committee, signaling a strategic shift.
In a significant move aimed at strengthening its governance and strategic direction, Drake & Scull International PJSC (DSI), a prominent player in the UAE's construction and engineering sector, has announced a reshuffling of its board and audit committee. The board of directors, in a resolution passed by circulation on November 24, 2025, appointed Mr. Khaled Owaidat to replace Mr. Ahmad Al-Kilani as a board member. This change is pending ratification at the next General Assembly meeting.
The board also reconstituted its audit committee, which will now include Mr. Khaled Owaidat, Mrs. Mia ZEČEVIĆ, and Mr. Mustafa Saifuddin. This strategic move is likely to enhance the company's oversight functions and align its operations with best practices in corporate governance.
Drake & Scull's decision to bring in new leadership and reconstitute its audit committee is indicative of its commitment to transparency and robust financial oversight. Such changes are often precursors to strategic shifts aimed at improving company performance and shareholder value.
Given DSI's history of delivering high-quality projects across various sectors, including MEP, water and power, and oil and gas, these changes are poised to bolster investor confidence. The appointment of Mr. Owaidat, who brings a wealth of experience, could potentially lead to new opportunities and partnerships, especially in the Middle East and North Africa regions.
For investors, these developments suggest a company on the cusp of transformation. While the changes are promising, it is advisable to adopt a 'hold' strategy at this juncture. Monitoring how these governance changes translate into operational and financial performance will be crucial in the coming quarters.
Overall, Drake & Scull's proactive approach in restructuring its leadership and audit processes positions it well for future growth, making it a company to watch closely in the evolving construction and engineering landscape.
Source
Summary
On November 24, 2025, the Board of Directors of Drake & Scull International PJSC passed resolutions by circulation. They appointed Mr. Khaled Owaidat as a Board Member to replace Mr. Ahmad Al-Kilani for the remainder of his term, subject to ratification by the General Assembly at the next meeting. Additionally, the Board reconstituted the Audit Committee with members Mr. Khaled Oweidat, Mrs. Mia ZEČEVIĆ, and Mr. Mustafa Saifuddin.
