Nakheel Appoints Manchanda As CEO

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 DBWLD.UL , 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.

Zawya