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Aramex’s veteran chief steps down

2012-04-26

 

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Fadi Ghandour, one of the Middle East’s most successful entrepreneurs, is set to retire as chief executive of Aramex, the company he founded as a university graduate 30 years ago.

Mr Ghandour turned Aramex into one of the emerging world’s fastest-growing logistics companies, which has expanded from its base in Jordan to become the Middle East’s best-known courier service, also in Africa, Europe and Asia.

The retirement will take effect by the end of the year, with Hussein Hachem, the company’s current head for the Middle East and Africa, set to take over as chief executive.

Mr Ghandour will remain at Aramex in a new role as vice-chairman, where he will focus on sustainability, strategic expansion and new investments.

Outside of his role at Aramex, he has been one of the region’s most enthusiastic supporters of young entrepreneurs, as well as an early stage investor in numerous start-up companies.

Gary Anderson has been appointed chief executive of the Dubai Gold and Commodities Exchange. Mr Anderson comes to the region’s first derivatives exchange after a 30-year financial services career that has included positions at Deutsche Bank and Goldman Sachs, where he led trading activities on the London International Financial Futures and Options Exchange.

Stephen Gaterell, the previous chief, left for personal reasons in February, after being named to the job last November.

Ahmed bin Sulayem, chairman of the GCGX, said Mr Anderson would lead the exchange’s “aggressive growth strategy” as it sought to capitalise on rising demand for a derivatives trading hub in the geography and timezone between Europe and Asia.

Hisham Alrayes has been named acting chief executive of Gulf Finance House, the sharia-compliant Bahraini investment bank.

Mr Alrayes was involved in the restructuring at GFH after the financial crisis in his role as its chief investment officer. The bank, which once led ambitious real estate projects, is now working on a new model, aiming to incubate new Islamic finance businesses across the Middle East.

Hussein Dabbas has resigned as president and chief executive of Royal Jordanian Airlines to take up a new role as the International Air Transport Association regional vice-president for the Middle East and north Africa.

Mr Dabbas, a Royal Jordanian veteran whose career at the state airline spanned three decades, took the top job at the company in 2009. In early April he told Bloomberg it was essential the carrier merge with a larger airline amid high fuel prices and tough competition. “To continue as we are is going to be a difficult game,” he said.

He was leaving Royal Jordanian because he believed it was time for “new ideas” at the airline, according to a statement on the Jordanian state news agency.

Du, the UAE mobile operator, has named Hanan Ahmad company secretary.

Ms Ahmad, a UAE national, has been at Du since 2010, working on developing a corporate governance system. She has previously worked for the Dubai Group, a Dubai state-owned investment company, in Dubai and the UK.

For more information visit:
http://www.ft.com/intl/cms/s/0/42b448e4-8ec9-11e1-ac13-00144feab49a.html#axz

 

 

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