MAGRABi Retail Group unveils new leadership structure, aligned with strategic expansion and gender equity goals

APPOINTMENT OF NEW CHAIRMAN AND NEW CEO FROM WITHIN

RIYADH, Saudi Arabia, Feb. 2, 2023 /PRNewswire/ -- MAGRABi Retail Group, the Middle East's leading eyewear retailer, marks the beginning of an inspiring new chapter for 2023 and beyond, with the unveiling of its strategic expansion plans, timed with a newly formed leadership structure.

The official appointments, which have taken effect as of January 1, 2023, include:

• Amin Magrabi, having served as Chief Executive Officer for 14 years, will now assume the role of Chairman of the Board. This pivotal seat in the new leadership structure, will see him lead the business forward and oversee strategic expansion goals in the Middle East and beyond, with a new progressive Board of Directors setup. 
• Yasser Taher has held the position of Chief Operating Officer for 14 years, where his entrepreneurial spirit, along with a disciplined approach to strategic implementation, have contributed to propelling MAGRABi Retail Group to its current stature. As the newly appointed Chief Executive Officer, Yasser becomes the first non-family member to hold this position in the history of MAGRABi Retail Group. He will drive the Group's transformation with his unrelenting vision, to position it as a world class leader in its category.
• Ahmed Ghobashi, formerly Chief Financial Officer, takes over the role of Chief Operating Officer with a big focus on client-centric strategies, aiming to amplify the culture of luxury and excellence across omnichannel operations at every point in the client journey, and elevate standards to compete on the international stage
• Cherine Magrabi, formerly Vice President of Marketing, becomes Chief Marketing Officer. Cherine's entrepreneurial nature and profound understanding of the Middle Eastern client, will lead the fusion of data and creativity and the development of innovative homegrown omnichannel marketing strategies.
• Sabine Volcic, previously Vice President of Buying and Merchandising, will now assume the role of Chief Merchandising Officer, fostering agile strategies that adapt to the fast-evolving ambitions of clients and markets, as well as driving vertical integration, and elevating the Group's position on the global scene of luxury and fashion-forward eyewear.

Its ambitious new leadership structure mirrors the transformation within the Group, and will be followed by the announcement of an innovative and progressive Board of Directors structure. These shifts are also strategically aligned with the Group's accelerated gender equity commitments, targeting a 50:50 gender balance at all levels of the organization by 2025.

Amin Magrabi commented on these organizational changes:

"Leading MAGRABi as CEO over the last 14 years has been the greatest of privileges. Together with Yasser Taher and with an exceptional team of leaders, we have managed to grow into the Middle East's leading eyewear retailer. This organization, born from the vision of one person 96 years ago, thrives on the passion and commitment of nearly 1500 people today. I am pleased to embark on this new journey alongside our new inspiring C-suite Executives and our new Board of Directors, balanced from a gender standpoint."

Yasser Taher also commented: 

"Having dedicated over 20 years of my career to MAGRABi Retail Group, I have watched it evolve under Amin's leadership into an organization that has the power to move the industry forward. My vision is to consolidate our leading position across the Middle East, and capitalize on the team's exceptional skills to expand the Group further."

For further information:

Tavistock Communications

+44 207 920 3150

magrabi@tavistock.co.uk

https://magrabi.com / https://www.doctorm-optics.com/

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SOURCE MAGRABi