Dubai: Marka has announced a new Chief Executive Officer, effective immediately, according to a company statement on the Dubai Financial Market (DFM) website on Sunday morning.
The local retailer has ended its five-month run without anyone at the helm, appointing Benoit Lamonerie to the position of CEO following the resignation of Nick Peel on December 21, 2016.
Lamonerie comes from Gulf General Investment Co. (GGICO), where he has been CEO of the retail and entertainment division for the past eight years.
Before that, he worked as General Manager of Union Properties in Dubai.
Khaled Al Mheiri, the vice-chairman of the board of directors and managing director, has assumed the responsibilities of CEO since Peel’s resignation in December.
In its statement on the bourse, Marka said that Lamonerie “has over the last 20 years led and managed major projects in the retail, hospitality, entertainment and real estate sectors, both locally in listed companies, and internationally.”
Marka was down 0.67 per cent on DFM as of 12:30pm.
Failing to record a profitable quarter since it was listed on the stock market in 2014, earlier this month Marka announced Dh27.8 million first quarter losses in its financial results for 2017.
