Majid Al Futtaim, the prominent Middle Eastern conglomerate in retail, real estate, leisure, and communities, has announced the appointment of Fadel Abdulbaqi Al Ali as Chairman of its Holding Board. He succeeds Sir Michael Rake, whose distinguished decade-plus tenure concluded this month.
Fadel Abdulbaqi Al Ali expressed his honor at the appointment, stating, “I am honoured by my appointment to Majid Al Futtaim’s Board of Directors and welcome the privilege and responsibility of guiding one of the UAE’s most beloved institutions as it embarks on its fourth decade of growth and prosperity.”
“I am grateful to Majid Al Futtaim’s management team, my fellow board members and Shareholders for their steadfast support, and to Sir Michael Rake, who has been associated with the Company for nearly two decades, leading through important moments and key transitions, while carving a path forward for the Group. His stewardship has left an indelible mark on Majid Al Futtaim,” Al Ali further added.
Al Ali brings stellar credentials in governance and leadership, having served as Deputy CEO and Group Chief Operations Officer at First Abu Dhabi Bank, as well as CEO of Dubai Holding. Since June 2021, he has held the position of Chairman of the Dubai Financial Services Authority and currently serves on several boards, including Wio Bank and Egypt’s Commercial International Bank.
