Fadi Ghandour to retire as Chief Executive Officer of Aramex at end of 2012
Published on: 4/14/2012 2:53:00 PM
Dubai, UAE; April 14th, 2012: Fadi Ghandour, Founder and CEO of Aramex (DFM: ARMX), the global logistics and transportation solutions provider, announced today that, by the end of 2012, he will be retiring as CEO, handing over day-to-day operations to Hussein Hachem, his chief lieutenant and current head of the Middle East and Africa regions.
The move will allow Ghandour, who has taken over as Vice Chairman of Aramex’s Board of Directors, to focus on strategic expansions, new investments, and sustainability, areas he considers crucial to Aramex’s growth and profile as it moves to consolidate its position as one of the world’s leading logistics operators.
One of the longest-serving CEOs in the business, Ghandour made the official announcement at the company’s annual conference, which is being held here in Dubai. Before a gathering of more than 200 leaders, Ghandour declared, “There is no better time than this 30th anniversary of Aramex, capping an astounding journey of challenges and achievements, to propose that you and I are ready for yet another leap. I have always maintained that the best part of building a company is to build it for and with others, to make it a platform for collective ambition and innovation. Looking at you and the team that has been helping me make Aramex the fantastic place it is today, I know that I have fulfilled my promise and that the day-to-day running of the company, under the leadership of Hussein Hachem, is in very capable hands.”
Ghandour was quick to add that, in addition to concentrating on strategy and investments, he will be devoting his time and energy to sustainability and entrepreneurship, two causes very close to his heart and ones he has actively championed throughout his tenure.
In 2006, Aramex was the first in the Middle East to issue a sustainability report. Moreover, in 2010, the emerging markets logistics giant set another precedent by combining financial and non-financial results into one integrated annual report. It was also one of the first in the region to issue a carbon footprint report, reflecting its serious commitment to responsible environmental practices.
Founded in 1982 in Jordan and New York by Ghandour and William Kingson, Aramex, which still is the only Arab-based company to ever list on the NASDAQ stock exchange, is often cited as one of the Arab world’s great success stories. From a very modest entrepreneurial endeavor, it has grown into a powerhouse in the global logistics and transportation industry, with revenues in 2011 topping USD 701 million. The company is home to more than 12,300 people and boasts a network that spans 353 locations in 60 countries. In recent years, its aggressive expansion and acquisition strategy has taken it to South East Asia, mainland China, and Africa.
Hachem started his 20-year career at Aramex fresh out of college, re-establishing operations in Kuwait after the 1991 Gulf War. He then moved up the ladder, becoming General Manager in Kuwait, Sri Lanka then the United Arab Emirates. In 2005, Hachem was promoted to Vice President for the UAE and Oman, and then to CEO of Gulf Cooperation Council Countries. For the past two years, he has served as the CEO of the Middle East and Africa, managing the largest revenue generating markets for the company.