In a significant leadership shift, Majid Al Futtaim Holdings has officially appointed Fadel Abdul Baki Al Ali as the new Chairman of the Board. This transition comes as the company bids farewell to Sir Michael Reik, who has diligently served since 2009. Fadel Abdul Baki Al Ali’s new role marks a pivotal moment for the organization, known for its extensive portfolio in shopping malls, integrated cities, and retail entertainment across the Middle East, Africa, and Asia.
Leadership Vision and Commitment
Upon his appointment, Fadel Abdul Baki Al Ali expressed his gratitude and excitement, stating, “I am honored to be chosen as the Chairman of Majid Al Futtaim Holdings and take pride in this confidence to lead one of the most esteemed companies in the UAE as it enters its fourth decade, preparing for a new phase of growth and prosperity.” His words reflect not just his aspirations for the company but also highlight the trust placed in him by the board and shareholders.
Acknowledging a Legacy
Fadel Abdul Baki Al Ali also took a moment to recognize the contributions of Sir Michael Reik, stating, “I would like to convey my thanks and appreciation to Sir Michael Reik, who has been associated with the company for nearly two decades. He guided it through pivotal phases and substantial transformations, paving its way toward the future and leaving a clear mark on the journey and history of Majid Al Futtaim.” This acknowledgment not only underscores the legacy of Reik but also indicates the continuity of strong leadership amidst change.
Professional Credentials
Fadel Abdul Baki Al Ali boasts an impressive professional background, establishing himself as a noteworthy figure in corporate governance and strategic leadership. He previously held various high-profile positions, including Deputy CEO and Chief Operating Officer at First Abu Dhabi Bank and CEO of Dubai Holding. Additionally, he currently serves as Chairman of the Dubai Financial Services Authority, Vice Chairman of Wio Bank, and a board member of the Commercial International Bank in Egypt.
About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is a prominent Emirati lifestyle group operating across the Middle East, Africa, and Asia. The group was conceived by its late founder Majid Al Futtaim, revolving around a vision of shopping, entertainment, and leisure to achieve “the happiest moments for everyone, every day.” Over the years, Majid Al Futtaim has displayed remarkable growth, now employing over 43,000 staff, possessing assets worth $19 billion, and holding the highest credit rating (BBB) among private companies in the region. The company attracts more than 600 million visitors through its physical and digital ecosystem each year.