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Nakheel appoints Manchanda as CEO
Nakheel, a unit of Dubai World, was forced to separately negotiate a restructuring agreement with creditors
October 10, 2012 1:37 by Reuters
Dubai developer Nakheel , whose flagship projects include islands in the shape of palm trees, has appointed Sanjay Manchanda as chief executive officer (CEO), the company said in a statement on Wednesday.
Manchanda had been acting CEO since June 2011, prior to which he was seconded to the firm as chief financial officer and played a leading role in the company’s financial restructuring.
Nakheel, a unit of Dubai World, was forced to separately negotiate a restructuring agreement with creditors, after running into debt troubles in the wake of the global economic downturn and a collapse of Dubai’s property market.