Depa PLC (“Depa”), the leading global interior solutions group, announces the resignation of the following non-executive directors from its board: Mr Mohamed Al Mehairi, Mr Saeed Al Mehairbi and Mr Gerard Hutchinson.
Following these resignations, Mr Abdulla Al Mazrui has been elected chairman of the board.
The board will elect the members of its respective committees and communicate the composition of these committees to the market in due course.
Mr Abdullah Al Mazrui, Chairman, commented:
“The changes to the group’s board track the cost saving measures taken by the business globally to date, and its plans to continue to take cost out of the business. The group is seeking to make its businesses leaner and more agile, and this change to the board size and composition complements this.
“On behalf of Depa, the remaining board members and myself personally, I would like thank all of those resigning directors. They have all contributed much value to Depa during their respective tenures. Their input has assisted the group to put in place its current transformation plan to mitigate the effects of the covid pandemic and the impact thereof on the construction sector in the Middle East, Asia and more globally.”
For further information, please contact:
Tel: + 971 4 821 6666
David Holiday, Group Chief Legal Officer and Company Secretary
For more information, please refer to the corporate website: www.depa.com
Notes to editors:
Depa is a strategic management company specialising in global interior solutions. Depa’s four key business units hold leading positions in their respective markets: DSG, Vedder, Depa Interiors and Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on three regional hubs: Asia, Europe and the Middle East.
Depa’s mission, shared by each of its key business units, is to deliver sustainability, profitability and performance for its clients, shareholders and employees. The Group’s five core values are integral to everything Depa does: transparency, integrity, accountability, professionalism and exceptional service.
Depa PLC is listed on the Nasdaq Dubai (DEPA: DU) and is headquartered in Dubai, United Arab Emirates.
This document may contain certain 'forward looking statements' with respect to Depa's financial condition, results of operations and business and certain of Depa's plans and objectives with respect to these items. By their very nature, forward looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events, and depend on circumstances, which may occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements. All written or verbal forward looking statements, whether made in this document or made subsequently, which are attributable to Depa or any other member of the Group or persons acting on their behalf are expressly qualified on this basis. Depa does not intend to update any such forward looking statements.