Majid Al Futtaim Holding Appoints a New CEO

Ahmed Galal Ismail assumes the position from Alain Bejjani, who served in the role for eight years

Dubai-based retail and real estate conglomerate Majid Al Futtaim (MAF) announced that Ahmed Galal Ismail has been appointed as chief executive officer of Majid Al Futtaim Holding.

Ahmed Galal Ismail assumes the position from Alain Bejjani, who served in the role for eight years.

As the chief executive of Majid Al Futtaim – Properties, Ismail has been responsible for Majid Al Futtaim’s malls, hotels, communities and project management operations since 2018, the company said in a statement on January 13.

Ismail previously served as CEO of Majid Al Futtaim – Ventures for a decade and was also VP Strategy of Majid Al Futtaim – Holding. Prior to joining Majid Al Futtaim, Ismail was a principal with Booz Allen Hamilton in Dubai, having started his career with Procter & Gamble in Egypt and then Germany.

The newly appointed CEO holds an MBA from London Business School and a B.Sc. in computer science from the American University in Cairo.

“I am committed to building on our strong, customer-focused strategy that has allowed us to deliver sustained growth,” Ahmed Galal Ismail said, following his appointment.

“Our prudent financial discipline and strong governance mean that we are well-positioned to remain focused on sustainable value creation and creating great moments for everyone, everyday.”

Majid Al Futtaim reported Dhs18bn in revenues for H1 2022, posting a 15 percent rise compared to a year-earlier period. The company’s EBITDA soared 18 percent to reach Dhs1.9bn, while its total assets valued at around Dhs62.9bn. Net borrowings, meanwhile, stood at Dhs11.2bn.