Arabian Centres Company appoints new CEO


May 17, 2020 | By RetailME Bureau

Saudi Arabia-based, Arabian Centres Company (ACC) has appointed Faisal Abdullah Al Jedaie as the new CEO of the company.

Erstwhile CEO, Olivier Nougarou will continue to serve the company in the role of senior advisor to the incoming CEO and the Board of Directors for strategy and growth.

“Faisal will lead ACC through what we expect will be challenging times for the wider industry in the period to come. As an entrepreneur with over 30 years’ experience building and running retail brands in the Kingdom, he has unparalleled insight into the needs of our tenants and of the millions of shoppers who trust us as a lifestyle destination,” said Fawaz Alhokair, chairman of the Board of Directors. “This, alongside his proven skills around running growth businesses in the Kingdom, will be critical to our continued success as we anticipate both normalisation of operations across our portfolio and changing economic conditions arising from the still-unfolding global pandemic.

Also watch: Realigning Business-Critical Goals

“The Board is very pleased that Olivier will remain with ACC as senior advisor for strategy and growth and looks forward to working with him on long-term corporate strategy initiatives to ensure that the company remains the premier contemporary lifestyle destination network in the Kingdom,” Alhokair added.

Jedaie, who stepped down as a member of the Board of Alhokair Fashion Retail on May 17, was previously CEO and founder of Nesk LLC, which at the time of its acquisition by Alhokair Fashion Retail in 2017 had captured double-digit market share in Saudi Arabia with more than 300 outlets representing brands including Mango, Stradivarius and Cortefiel.

Speaking about his new role at ACC, Al Jedaie said, “I am deeply honoured to be taking on this challenging new role and being given the opportunity to help to reinforce and enhance the reputation and position of Arabian Centres as the leading lifestyle centre destination in the Kingdom.”

Under Nougarou’s leadership, the business was successfully listed on Saudi Arabia’s stock exchange Tadawul in 2019, followed by a successful international bond offering later in the year. Nougarou led the company to open two new lifestyle centres bringing the total to a network of 21 across the Kingdom.

“It has been a privilege to have been able to lead and drive the ambitions of this dynamic business. I am now looking forward to supporting Faisal’s leadership of the business with more of my time allocated for business strategy, growth and international relations for brands and investors,” Nougarou concluded.

 

For all the latest retail news from the Middle East, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau




Download Images RetailME Magazine