Damac CEO to step down next month

Damac Properties Chief Executive Officer Peter Riddoch said yesterday he will be resigning from the post next month.

"To leave an organisation that has been a significant part of my life for so many years will not be easy, but I know that the time is right for me to make some changes, focus a bit more on my personal interests and family, and possibly even take on new challenges," Riddoch said in a statement.

Hussain Sajwani, Chairman of Damac Properties, confirmed in the statement he had accepted Riddoch's resignation.

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