Emaar Malls chief resigns, replacement announced


January 12, 2021 | By RetailME Bureau

UAE-based Emaar Malls have announced the resignation of its CEO, Rajiv Suri just four months after his appointment.

Amit Jain, who was the Group CEO of Emaar Properties has taken over the responsibilities until further notice. This was disclosed in a filing to Dubai Financial Market on Tuesday morning.

The company had reported revenue of AED 2.5 billion for the first nine months of 2020 and a net profit of AED586 million, compared to AED1.732 billion for the same period in 2019. Namshi, its e-commerce fashion and lifestyle arm, recorded nine-month revenue at AED933, which was 35% higher than the corresponding time in the previous year.

This is a developing story. More to follow.

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