Thursday, January 21, 2021

CEO of Dubai’s Emaar Malls resigns after four months on the job

The CEO of Emaar Malls, owner and operator of the world’s largest shopping centre, has resigned from his post. He was appointed as CEO on September 2020.

The retail unit of the largest listed developer Emaar Properties announced on Tuesday that Rajiv Suri’s resignation is with immediate effect.

“His responsibilities will be handled by Amit Jain until further notice,” the company said in a bourse filing to the Dubai Financial Market (DFM), on which its shares trade.

The company reported a net profit of approximately $160 million for the first nine months of 2020.

According to Mohammed Alabbar, the company’s founder, Emaar Malls has remained resilient despite the challenges posed by the coronavirus outbreak.

“[The company] continues to show incredible strength… despite the challenging year for everyone in the retail industry,” he said in November.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021

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