Majid Al Futtaim, a company specializing in the development and management of shopping centers, integrated cities, and retail and entertainment establishments across the Middle East, Africa, and Asia, has announced the appointment of Zain Abdullah and Iyad Malas as independent, non-executive members of the Board of Directors of Majid Al Futtaim Holding.
During this announcement, Fadel Abdul Baki Al Ali, Chairman of Majid Al Futtaim Holding, shared: “This appointment marks a new and bright chapter in our journey, and I am pleased to welcome both Zain Abdullah and Iyad Malas to our board. Their extensive experience and global vision will enhance our efforts and drive the continued legacy of this esteemed company in innovation and excellence. We are confident that their insights will play a pivotal role in guiding us towards our ongoing successes and sustainable growth.”
Zain Abdullah brings a wealth of experience from his tenure at several leading global companies, including 19 years at PepsiCo, where he retired as the CEO, and 16 years at Mars. Throughout his distinguished career, Zain has developed deep expertise in corporate management, procurement, supply chain, global brand management, innovation, and formulating global strategies for both developed and emerging markets. He currently serves as the Chairman of Mastercard, an advisor to Mars, and is a board member at Cognizant and the Kuwait Food Company (Americana).
Meanwhile, Iyad Malas possesses over 35 years of experience in leadership roles across various sectors, including real estate, retail, entertainment, financial services, and investments. He previously held positions as a partner at Gateway Partners and was the CEO of Majid Al Futtaim Holding. Additionally, he was the Chief Operating Officer and Head of Asset Management at EFG Hermes. Iyad has a notable career at the International Finance Corporation, part of the World Bank Group, and currently acts as the CEO of Al Ghurair Group. He is also a board member of several publicly traded companies, including Mashreq Bank, National Cement Company, and Polyplex in India and Thailand.
Founded in 1992, Majid Al Futtaim is a UAE-based lifestyle conglomerate operating throughout the Middle East, Africa, and Asia. The group was established based on the vision of its late founder, Majid Al Futtaim, centered around the concepts of shopping, entertainment, and leisure to create “the happiest moments for everyone, everyday.” The company has experienced significant growth, now recognized as one of the most reputable organizations in the region, employing over 43,000 people with total assets valued at $19 billion. It enjoys the highest credit rating (BBB) among private companies in the region while welcoming more than 600 million visitors through its physical and digital platforms each year.