Fadi Ghandour, founder and CEO of global logistics company Aramex has announced 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 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.
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 endeavour, it has grown into a powerhouse in the global logistics and transportation industry, with revenues in 2011 topping US$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.