Power Hour 2021: Alain Bejjani, CEO at Majid Al Futtaim , Ranks 27th

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Ranking 27 : Alain Bejjani, CEO at Majid Al Futtaim

In February 2021, Majid Al Futtaim released their 2020 results where the company reported revenue of AED32.6 billion and EBITDA of AED3.8 billion, representing declines of 7% and 19%, respectively, driven by the impact of the COVID-19 pandemic. The company’s assets decreased 6% to approximately AED59.1 billion.

From the onset of the pandemic, Majid Al Futtaim adopted a stakeholder-first strategy, including strengthening its engagement with governments across all markets in which the company operates to identify and implement measures to minimise the spread of the virus and overcome supply challenges derived from the pandemic.

Majid Al Futtaim Chief Executive Officer Alain Bejjani commented on the company’s 2020 results, “Despite the extraordinary events of 2020, Majid Al Futtaim’s full year performance demonstrated the resilience of our people and business model, diverse portfolio, operational agility, proactive investments and prudent financial risk management.

“The pandemic has not only been a financial crisis, but an even bigger crisis of trust. We have built our organisation to withstand adverse economic conditions, so our primary focus was on acting swiftly to protect our customers and employees, as we worked diligently to restore trust and maintain non-negotiable commitments to our sustainable business practices. The fact that we have experienced growth in some of our businesses during a year of unprecedented disruption is a testament to the importance that should always be placed on people, the planet and our collective progress. For me, this is stakeholder capitalism in action, and it makes me optimistic about our future.”