INVESTOR PRESENTATION

INVESTOR PRESENTATION
DECEMBER 2015
CONTENTS
TABLE OF CONTENTS
Majid Al Futtaim Group Overview & Performance Update
Appendix

Board of Directors
2
2
MAJID AL FUTTAIM GROUP OVERVIEW
Group Corporate Structure


Solid Track Record


The Group is the leading shopping mall, retail and leisure developer
and operator in the MENA region.
Diversified across three retail-focused business divisions, offering
complementary consumer offerings and operational synergies.
Have grown to one of the largest corporate entities in the UAE.
Have managed to maintain a robust financial profile and delivered
steady growth amidst the financial crisis.
Majid Al Futtaim Holding LLC Consolidated Financials (USDmn)
Mr. Majid Al Futtaim
(Founder)
Mr. Tariq Al Futtaim
99.6%
Item
2010
2011
2012
2013
2014
H1-2015 4Y CAGR
Assets
9,246
9,658
10,325 10,743 12,151
12,897
7.1%
Revenues
4,569
5,011
5,604
6,180
6,868
3,728
10.7%
621
745
809
892
977
496
12.0%
0.4%
MAJID AL FUTTAIM
CAPITAL LLC
99.9%*
EBITDA
MAJID AL FUTTAIM HOLDING LLC
(Rated BBB/BBB)
MAJID AL FUTTAIM
PROPERTIES LLC
MAJID AL FUTTAIM
RETAIL LLC
Best in Class Governance Principles
MAJID AL FUTTAIM
VENTURES LLC
 Voluntarily adopted the principles of the Combined Code on Corporate
Governance for listed companies in the UK
 Strong operating company Board structures reporting to a group Board
Regional Footprint – 13 countries since 1992
Georgia
Armenia
Highest Rated Privately Owned Corporate in the GCC
Lebanon
Iraq
Pakistan
Kuwait
Bahrain
Egypt
Qatar
Saudi Arabia
Rating Agency
Rating
Outlook
Standard & Poor’s
BBB
Stable
Fitch
BBB
Stable
UAE
Ratings affirmed June 2015
* BALANCE 0.1% HELD BY MAJID AL FUTTAIM TRUST LLC
3
2015 FIGURES BASED ON HALF YEAR 2015 REVIEWED ACCOUNTS
3
MAJID AL FUTTAIM GROUP VISION & MISSION
WE ARE A VISION-DRIVEN ORGANISATION THAT AIMS AT
CREATING GREAT MOMENTS FOR EVERYONE, EVERY DAY.
Over the last 20 years, we
have revolutionised the face
of shopping, entertainment
and leisure, creating some of
Dubai’s most globally
recognised iconic
landmarks helping to turn the
city into the modern
metropolis that it is today.
Our mission for the next 5
years is to create more
great moments, for more
customers across an
expanded footprint.
2015 is a transformational year for us. Our goal is to
sustainably double our size, within the capacity of our
BBB rating and always under prudent financial
management.
4
BUSINESS OVERVIEW: MAJID AL FUTTAIM PROPERTIES
GROUP’S CORE BUSINESS
Overview of Majid Al Futtaim Properties
Majid Al Futtaim Properties’ Key Strengths
 Majid Al Futtaim Properties is the Group’s largest contributor in
terms of EBITDA and combines a balanced mix of operating
assets (primarily shopping centers) and developments.
Alliances and Partnerships with
Key Retailers
 The subsidiary’s core business is Shopping Malls:
 Currently operates 19 shopping malls (includes 4 JVs) in the
UAE, Egypt, Oman, Bahrain and Lebanon – currently developing
four new malls and recently completed an expansion of Mall of
the Emirates.
Established Track Record,
Reputation & Brand
Unique Leisure Offers
(Through Majid Al Futtaim Ventures)
MAJID AL FUTTAIM
PROPERTIES
 Leasable area of approx. 1.1 million square meters as at 30 June
2015 – aggregate visitors of 167 million in 2014, reflecting 6%
growth over 2013 and 85 million in H1 2015, 2% growth over H1
2014.
In-House Expertise (Fully
Integrated Operations)
Iconic Assets
Prime Locations Secured for
Business
180
97% Occupancy
Rate
Competitive Rent
to Sales Ratio
150
120
 Majid Al Futtaim Properties also owns 12 hotels adjacent to
shopping malls in the UAE (10) and Bahrain (2), with one under
development in Dubai, which aim to capitalize on tourist shopping
and enhance the value of the malls, while capturing higher traffic.
99%
65%
99%
72%
98%
97%
97%
100%
74%
75%
69%
80%
90
60%
60
40%
30
20%
135.3
135.7
146.9
156.5
167.0
2010
2011
2012
2013
2014
0
0%
Total Shopping Mall Footfall - Million
5
120%
Shopping Mall Occupancy
Hotels Occupancy
BUSINESS OVERVIEW: MAJID AL FUTTAIM RETAIL
GENERATING STEADY CASHFLOWS
Overview of Majid Al Futtaim Retail
Operating Framework
 Majid Al Futtaim Retail is one of the most active retailers in the
region and introduced the first hypermarket in the Middle East in
1995.
 Majid Al Futtaim Retail aims to capitalize on its strong supply chain
and procurement procedures to deliver value to its customers.
 Majid Al Futtaim Hypermarkets is a wholly owned subsidiary
since 25 June 2013 when Majid Al Futtaim acquired the remaining
25% from Carrefour SA. As part of the transaction, Majid Al Futtaim
also renewed its exclusive franchise partnership with the Carrefour
group until 2025 and extended it to an additional 19 new countries.
It now has the exclusive franchise rights for Carrefour in 38
countries predominantly across the Middle East, Africa and
CIS regions.
Sales Volume
Reinvest
Rebates
 Carrefour charges a sale-based franchise fee and provides
approval on new store openings.
Purchasing
Power
Supplier Rebates
 As at 30 June 2015, Majid Al Futtaim operated over 60 Carrefour
hypermarkets, over 70 Carrefour supermarkets and 4
convenience stores across 13 countries, as well as an online
store.
 Majid Al Futtaim plans to open 3 new Carrefour hypermarkets, 9
Carrefour supermarkets and 3 convenience stores during H2
2015.
Low Prices
6
Good Quality
Wide Choices
BUSINESS OVERVIEW: MAJID AL FUTTAIM VENTURES
SEEKING COMPLEMENTARY BUSINESSES
Overview of Majid Al Futtaim Ventures
 Majid Al Futtaim Ventures builds and manages value enhancing businesses for the Majid Al Futtaim Group, focusing on selected sectors that are
relevant for the wider business in the region.
 The current portfolio comprises both wholly owned companies and joint ventures.
 Majid Al Futtaim Ventures holdings are further split between strategic and investment holdings – strategic businesses comprise those which
provide a strategic fit to the Group’s business.
Strategic
Holdings
MAJID AL FUTTAIM
VENTURES
Majid Al Futtaim Leisure & Entertainment
LLC
Majid Al Futtaim Cinemas LLC
 Provides unique leisure
offerings to Majid Al Futtaim
Malls (Ski Dubai, Magic Planet,
Lego, etc)
Majid Al Futtaim Fashion LLC
 Retails brands with exclusive
licensing rights for MENA (e.g.
Abercrombie & Fitch, Juicy Couture,
Mexx, etc)
 55 stores in 6 countries
Majid Al Futtaim Finance LLC
 Cinema business with143
screens across the MENA
region
ENOVA by VEOLIA
Majid Al Futtaim Food & Beverages LLC
 JV providing Energy
Services and Facilities
Management
 Formed in 2002 (as
Dalkia)
Wholly-Owned
 Acquired in 2013, JV
operates portfolio of
international brands like
California Pizza Kitchen,
You Sushi, Morelli’ etc.
Joint Venture
7
 Credit card issuer business
 Introduced Visa cards in 2010
(106,398 active cards)
Majid Al Futtaim Healthcare
 Multi-speciality and Day Care Surget
Centre opened in 2013 in Deira City
Center. Awarded ISO 15189
standard and Joint Commision
International’s Gold Seal of Approval.
HISTORICAL FINANCIAL PERFORMANCE OVERVIEW
SOLID FINANCIAL PERFORMANCE ON THE BACK OF A MANAGED GROWTH STRATEGY
Financial Highlights
Majid Al Futtaim Properties (USDmn)
Majid Al Futtaim has a proven track record of delivering strong financial
results on the back of an effective growth strategy
Revenue
Majid Al Futtaim Holding LLC Consolidated Financials (USDmn)
Item
2010 2011 2012
2013
2014 H1-2015 4Y CAGR
9,246 9,658 10,325 10,743 12,151 12,897
7.1%
Assets
4,569 5,011 5,604 6,180 6,868
3,728
10.7%
Revenue
621
745
809
892
977
496
12.0%
EBITDA
629
389
2010
63.4%
62.0%
62.6%
62.0%
539
516
341
336
2012
2013
2014
H1-2014
H1-2015
Majid Al Futtaim Retail (USDmn)
Revenue
Item
4Y CAGR
10.2%
Revenue
11.0%
EBITDA
EBITDA
5,603
5,032
4,591
4,121
3,796
EBITDA Margin by Entity (%)
61.9%
2011
645
604
532
476
Item
4Y CAGR
13.4%
Revenue
13.5%
EBITDA
1,040
966
858
751
 The Group’s ability to combine capital intensive high margin
business (shopping malls) with capital positive, high volume
business (hypermarkets) allows it to effectively manage its
growth.
70.0%
EBITDA
3,061
2,854
63.30%
206
312
268
253
245
149
155
H1-2014
H1-2015
60.0%
2010
50.0%
30.0%
18.6%
17.5%
12.6%
Revenue
14.2%
14.2%
5.3%
5.6%
9.10%
5.9%
10.0%
0.0%
2012
2013
2014
Majid Al Futtaim Ventures (USDmn)
40.0%
20.0%
2011
5.5%
207
5.10%
EBITDA
243
209
189
Item
4Y CAGR
9.0%
Revenue
12.3%
EBITDA
293
2010
2011
MAF Properties
2012
2013
MAF Retail
2014
166
137
5.4%
H1-2015
26
35
37
35
41
18
15
MAF Ventures
2010
8
2011
2012
2013
2014
H1-2014
H1-2015
2015 FIGURES BASED ON HALF YEAR 2015 REVIEWED ACCOUNTS
H1 PERFORMANCE OVERVIEW: GROUP
STRONG OPERATIONAL PERFORMANCE DESPITE HEADWINDS
Geographical Split – 30 June 2015
Financial Highlights
(USDmn)
H1-2014
H1-2015
Change
Revenues
3,489
3,728
7%
EBITDA
489
496
1%
YTD Capex
562
By Revenue
Oman
6%
By EBITDA
Saudi
Qatar 1%
6%
Others
9%
Saudi
9%
UAE
52%
Qatar
8%
Bahrain
3%
451
Bahrain
8%
UAE
69%
Egypt
8%
Egypt
13%
Revenue growth at sustainable growth level, despite some
regional macro headwinds, driven by broad based operational
performance across the key business units
Oman
Others
6%
1%
Others include Iraq, Georgia, Armenia and Kazakhstan
Segmental Split – 30 June 2015
By EBITDA
By Revenue
EBITDA growth slower than expected reflecting promotional
activities, costs associated with new market entries, product
mix impact and softer hospitality market
Ventures
5%
Ventures
3%
Properties
14%
Retail
30%
Properties
67%
Business segment or geographical contributions consistent
with historical positions
Retail
81%
9
FIGURES BASED ON HALF YEAR 2015 REVIEWED ACCOUNTS
H1 PERFORMANCE OVERVIEW: OPERATING UNITS
Properties
H1 2015
Revenues (USDm)
H1 2015
EBITDA (USDm)
539
H1 2015
SHOPPING
MALLS
341
Occupancy
97%
+2% (+3% LFL)
Footfall growth y-o-y
LFL* Average Occupancy
77%
LFL RevPAR Change y-o-y
-11%
HOTELS
Retail
Rent to sales
0% (+4% LFL)
<10%
Impacted by increased supply of rooms vs
previous year, and slower tourism inflow
H1 2015
H1 2015
3,061
Revenues (USDm)
H1 2015
EBITDA (USDm)
Tenant sales y-o-y
155
Sales (LFL)
3%
HYPERMARKETS
New Stores H1 2015
+5
Total Stores
>60
SUPERMARKETS
New Stores H1 2015
+7
Total Stores
>70
H1 2015
Ventures
No of admissions
H1 2015
Revenues (USDm)
166
CINEMAS
H1 2015
EBITDA (USDm)
15
L&E
FASHION
+44%
Total Screens
143
+1
Total sites (Magic Planet)
18
+7
Operating 7 brands in 55 stores across 6
countries
New Screens added
+14
New Sites (Magic Planet) added
New Stores opened
* LFL: LIKE FOR LIKE
10
FIGURES BASED ON HALF YEAR 2015 REVIEWED ACCOUNTS
RECENT DEVELOPMENTS – Q3 2015
ON TRACK TO DELIVER STABLE FINANCIAL PERFORMANCE AS PER OUR PLANS
Q3 2015
Revenues
Q3 2015
EBITDA
+6% vs Q3 2014
+5% vs Q3 2014
Q3 2015
Occupancy
97%
Tenant sales y-o-y
+1% (+4% LFL)**
SHOPPING MALLS
YTD Footfall growth y-o-y
+4% (+6% LFL)
LFL YTD Average Occupancy
74%
LFL YTD RevPAR Change y-o-y
-8%
YTD Sales (LFL) y-o-y
+2%
Rent to sales
<10%
HOTELS
RETAIL
New stores (hypermarkets & supermarkets)
+4
Operational Highlights
 Mall of the Emirates expansion successfully opened on 28th September 2015 (incremental GLA of 25,000 m2)
 Opened City Centre Me’aisem (23,400 m2 GLA) and City Centre Shindagha (22,400 m2 GLA)
 Opened 1 new hypermarket and 3 new supermarkets
 Ventures opened 2 additional Lego shops in UAE, 1 Magic Planet in UAE, 2 cinema sites in UAE and acquired 44 fashion stores of Monsoon and
Accesssorize in the GCC region
 Mall of the Emirates expansion included a revamped 24 screen Vox cinema with innovative concepts such as the first IMAX with laser screen in
the Middle East, the largest 4DX screen, a luxury concept screen, as well as two kids cinemas with an adjoining party room.
 Obtained freehold title on the originally gifted land of the Mall of the Emirates
11
* Q3-2015 FIGURES EXTRACTED FROM UNAUDITED MANAGEMENT ACCOUNTS
** TENANT SALES AS OF AUGUST 2015
GROUP DEBT PROFILE (1/2)
Majid Al Futtaim Group’s Balance Funding Profile
Majid Al Futtaim Properties Level
(USD 400mn)
Majid Al Futtaim Holding Level
(USD 1,833mn)
All of which is Senior Unsecured
obligations at Holding level
Cross guarantees
All of which is Senior unsecured
obligations at Properties level
Other
(USD 377mn)
Primarily project finance with limited
recourse to borrower
All Senior Unsecured financing
obligations rank pari passu
among themselves
Total gross debt amounted to c.
USD 2.6bn as at 30 June 2015
(excluding USD 500mn hybrid
issuance)

Both Fitch Ratings and Standard & Poor’s have reaffirmed BBB rating with stable outlook in June 2015

Optimised debt portfolio in 2014 and 2015 and increased revolver component of bank financing to reduce cost
of carry

Cash position of over USD 420mn and undrawn available lines of over USD 1.6bn (as of 30 June 2015)*

Average debt life extended to 4.5 years (excluding hybrid) as of 30 June 2015 , up from 3 years in December
2011
12
* FIGURES BASED ON HALF YEAR 2015 REVIEWED ACCOUNTS
USD500MN EQUITY HYBRID IS NOT TAKEN INTO ACCOUNT IN DEBT CALCULATION
GROUP DEBT PROFILE (2/2)
Majid Al Futtaim’s Robust Capital Structure
Debt Maturity Profile (USD mn)
1,200
Dec
2011
Dec
2012
Dec
2013
Dec
2014
Jun
2015
Total Borrowings: USD 2.6bn
850
738
800
Secured debt as a
percentage of
Gross Debt
46%
7%
10%
13%
14%
516
435
400
EBITDA from
encumbered assets
as % of Total
EBITDA
28%
<1%
4%
4%
3%
65
7
0
2015
2016
2017
2018
2020 onwards
Majid Al Futtaim’s Capital Structure
Strong Leverage Metrics
2,500
6
9,000
4.9x
5
2,000
47%
46%
50%
40%
7,500
40%
3.7x
4
6,000
3
4,500
2
3,000
1
1,500
0
0
31%
29%
29%
27%
2.8x
2.2x
2.2x
2.2x
0
2009
2010
EBITDA
2011
2012
Net Debt (USD mn)
2013
2014
2,180
7,603
2,179
6,580
1,924
5,975
1,882
5,355
2,122
4,929
2010
Net Debt (USD mn)
Net Debt / EBITDA (times)
10%
0%
2009
2015 H1*
2,311
4,892
2,180
983
2,179
977
1,924
892
1,882
809
2,122
745
2,311
621
2,239
461
500
30%
20%
1,000
2,239
2.3x
8,063
1,500
2019
2011
2012
2013
Equity (USD mn)
2014
2015 H1
Net Debt / Equity (%)
* FOR H1 2015, EBITDA REFLECTS 12 MONTH ROLLING
13
* FIGURES BASED ON HALF YEAR 2015 REVIEWED ACCOUNTS
USD500MN EQUITY HYBRID IS NOT TAKEN INTO ACCOUNT IN DEBT CALCULATION
PRUDENT FINANCIAL MANAGEMENT
PROVIDING SOUND PLATFORM FOR GROWTH
Funding Risk Management Framework
 The group focuses on two very important pillars:
(1) Liquidity
(2) Risk Management
Target at least 18 months of financing
requirements
Active management of interest rate, credit
and FX risk
Maintain flexibility in terms of capital
commitments
Financial covenants further reinforce
capital management framework
Current Status
Funding Risk Management
Framework
Policy Covenant
Status as of
31 December 2013
Status as of
31 December 2014
Status as of
30 June2015
Liquidity Coverage – Months
18
30+
24+
24+
IR Risk – Duration in Years*
0.50 – 3.00
3.60
1.75
1.94
Tangible Net Worth – USD billion
4.1
6.6
7.6
8.1
Total Net Debt to Total Equity (x)
<0.7
0.3
0.3
0.3
Interest Cover (x)
>2.5
6.2
8.7
>10**
*Prior to March 2014, the Group’s IR Risk policy on duration was 3.9 +/- 1.0 years
** Based on 12 month rolling data
14
* FIGURES BASED ON HALF YEAR 2015 REVIEWED ACCOUNTS
USD500MN EQUITY HYBRID IS NOT TAKEN INTO ACCOUNT IN DEBT CALCULATION
PRO-ACTIVE FUNDING STRATEGY
Majid Al Futtaim Funding Journey
 Liquidity assurance with
bank facilities despite
disrupted market
 Spending Plans and
capital structure adjusted
‘09
 USD 2bn EMTN Program
established
 USD 1bn early
refinancing to strengthen
liquidity
 BCC/FCC financing
 Initiate Investor education
on MAF credit story
‘10
 Company’s debut Islamic
finance deal
 Majid Al Futtaim gets
credit rating from S&P
and Fitch
 BBB with Stable outlook
 Carrefour Minority share
purchase EUR 530mn
 Issued USD 500mn first
ever international
Corporate Hybrid issuance
from MENA
 Largest Majid Al Futtaim
Club Revolver USD 1.6bn
‘11
‘12
 USD 1bn Sukuk Program
established
 USD 400mn Debut Sukuk
 USD 500mn Debut conventional
bond issued
 USD 500mn MoEg Project
Finance in Egypt
‘13
 Optimized Sukuk
Program structure
 Opportunistic upsizing
and tenor extension on
bank facilities
 $500mn 10yr Sukuk
‘14
‘15
 Debut 10 year USD bond
issuance
 Further optimization of
debt portfolio through
USD 500mn Club
Revolver
FINANCING: STRATEGIC FOCUS AREAS
Diversified Sources of Funding
Matching cash flow profile of liability &
assets: lengthen tenor
Prudent financial policies (liquidity, risk
management)
Optimize debt portfolio opportunistically
Establish credibility & ongoing relationship
with investors
Reduce cost of financing
15
STRATEGIC PRIORITIES
Maintain leadership
in our core countries
Protect our leadership
position in the UAE
Expand to be leaders
in adjacent/core
geographies
Build a foundation
position in Africa
Expand considerably
our presence in Egypt
and Saudi Arabia,
driven by our shopping
malls business
Expand in at least 5
additional African
countries with
Carrefour
16
Grow at scale at least
one adjacent
business
Evaluate business
opportunities in
adjacent businesses
MEASURED GROWTH & STEADY DEVELOPMENT PIPELINE
TRUE TO OUR COMMITMENT TO OUR CREDIT RATING, OUR TOP-DOWN CAPITAL ALLOCATION APPROACH IS
MANAGED WITHIN THE DEBT CAPACITY OF THE BBB METRICS AND WITH AN EYE ON PRUDENT FINANCIAL
MANAGEMENT.
EGYPT
Mall Development Pipeline
UAE & OMAN
KSA
City Centre Al Zahia (Sharjah,
UAE)
 Greenfield Super Regional Mall
 GLA: 130,000 M2
 Land acquired
 Construction start 2016
 Opens 2018
City Centre Sharjah Expansion
(Sharjah, UAE)
 Expansion
 Incremental GLA: 13,400 M2
 Land acquired
 Construction start 2015
 Opens 2016
Mall of Egypt (Cairo, Egypt)
 Greenfield Super Regional Mall
 GLA: 165,000 M2
 Under construction
 Land acquired
 Opens 2016
Mall of Oman (Muscat, Oman)
 Greenfield Super Regional Mall
 GLA: 129,000 M2
 Land leased (50yr lease)
 Construction start 2016
 Opens 2019
City Centre Ajman (Ajman,
UAE)
 Expansion
 Incremental GLA: 21,400 M2
 Land acquired
 Construction start 2015
 Opens 2017
City Centre Almaza (Cairo, Egypt)
 Greenfield Regional Mall
 GLA: 102,000 M2
 Land acquired
 Construction start 2015
 Opens 2018
Note:
2-3 Community Malls also planned for UAE within 2016-2018
1 Hotel planned for UAE
City Centre Ashbiliah
(Riyadh, KSA)
 Greenfield Regional Mall
 GLA: 115,000 M2
 Land acquired
 Construction start 2016/17
 Opens 2019/20
Note: KSA land banking
under exploration
City Centre Maadi (Cairo, Egypt)
 Expansion
 GLA: 61,000 M2
 Land acquired
 Construction start 2017
 Opens 2020
New Hypermarkets Pipeline - 2015
Location
Number
Location
Number
Location
Number
UAE *
2
Armenia*
1
KSA *
1
Oman *
1
Iraq*
1
Georgia
1
Location
Number
Egypt
1
* YTD SEPT 6 HYPERMARKETS OPENED SO FAR (UAE, OMAN, IRAQ, KSA & ARMENIA)
17
CLOSING REMARKS
BUILDING ON A PROVEN TRACK RECORD
 For the past two decades, Majid Al Futtaim has adopted a focused strategy of achieving outstanding shopping destinations and has grown
into a diversified and synergistic business, both in terms of geographic and product/service offering.
 Its growth has been effectively managed through strong corporate governance and robust investment/risk management frameworks.
 The result has been a strong and resilient performance through business cycles, including the latest financial, economic and political crises.
 This is a transformational year for the company, with Majid Al Futtaim Holding assuming the role of Strategic Architect and taking a number of
initiatives in order to position the group for its next stage of accelerated growth.
 The group’s plans will reflect the strategic priorities it has set for the next 5 years. This includes cementing leadership in our core market
(UAE), expanding to be leaders in Egypt and Saudi Arabia, creating a foundational position in Africa and growing to scale at least one
adjacent business.
 The group will continue to be focused on its strong fundamentals, proven strengths, prudent financial management and the strong
commitment to its BBB credit rating.
18
CONTENTS
TABLE OF CONTENTS
Majid Al Futtaim Group Overview & Performance Update
Appendix
Board of Directors
19
MAJID AL FUTTAIM HOLDING BOARD OF DIRECTORS
TO PROMOTE A CONSISTENT, GROUP-WIDE STRATEGY, HOLDING CEO ALSO ATTENDS THE BOARD MEETINGS OF
THE THREE SUBSIDIARIES.
Sir Michael Rake – Majid Al Futtaim Holding Chairman
Sir Michael Rake was appointed as Chairman of Majid Al Futtaim Holding on 1 July 2009. He is currently the Chairman of BT Group plc, the UK’s largest telecom operator, and of WorldPay. He was
President of the Confederation of the British Industry from 2013 to 2015 and holds directorships at Barclays PLC (Deputy Chairman)\ and McGraw Hill Inc. amongst others. In the second half of
2015 Sir Michael Rake is due to be appointed as Chairman of the International Chamber of Commerce. He was previously the chairman of KPMG International and a senior partner of KMPG in the
UK. Prior to his appointment as chairman of KPMG International, he was the chairman of KPMG in Europe.
Khalifa Sulaiman – Majid Al Futtaim Holding Deputy Chairman
Mr Khalifa Sulaiman joined the Majid Al Futtaim Holding Board in October 2011. Mr. Sulaiman is a UAE National and has spent a career in government, representing the UAE both locally, regionally
and internationally. During his career, Mr Sulaiman was Ambassador to the Court of St. James in the UK, Chairman of H.H. The Ruler’s Court, Dubai, and Chairman and Director of National Bank of
Dubai PJSC.
Alain Bejjani – Majid Al Futtaim Holding Chief Executive Officer
Mr Alain Bejjani was appointed as CEO of Majid Al Futtaim Holding in February 2015. He was formerly the Chief Corporate Development and Brand Officer at Majid Al Futtaim Holding. He was
previously the Vice President (Legal) at Majid Al Futtaim Properties and Head of Business Development at Majid Al Futtaim Properties. Prior to joining Majid Al Futtaim Properties, Mr Bejjani was
Executive Vice-Chairman of the Investment Development Authority of Lebanon (IDAL) and a founding partner of a law firm.
Tariq Al Futtaim – Majid Al Futtaim Holding Director
Mr Tariq Al Futtaim joined the Majid Al Futtaim Holding Board in May 2005. He was appointed as Vice President when Majid Al Futtaim Holding was formed. He is currently Chairman of the
Majid Al Futtaim Charity Foundation, a prominent charitable initiative founded by the President, Mr Majid Al Futtaim.
Viswanathan Shankar – Majid Al Futtaim Holding Director
Mr Viswanathan Shankar joined the Majid Al Futtaim Holding Board with effect from 1 January 2012. Mr Shankar was, until April 2015, Group Executive Director and a member of the Board of
Directors of Standard Chartered PLC and Standard Chartered Chief Executive Officer - Europe, Middle East, Africa and the Americas as well as Executive Chairman of Principal Finance and
Chairman of Standard Chartered private bank. Prior to joining Standard Chartered in 2001, Mr Shankar spent 19 years with Bank of America in both Asia and the United States of America. Mr
Shankar is a member of the Board of the Inland Revenue Authority of Singapore and the Board of Trustees of the Singapore Indian Development Association as well as being a member of the
Singapore Government’s National Integration Council.
Ian Davis – Majid Al Futtaim Holding Director
Mr Ian Davis joined the Board of Majid Al Futtaim Holding on 1st June 2012 Mr Davis is the Chairman of Rolls Royce and an independent non-executive director of BP, Johnson & Johnson, Inc. He
is also a non-executive member of the UK’s Cabinet. Ian Davis spent his early career at Bowater, moving to McKinsey & Company in 1979. He was managing partner of McKinsey’s practice in the
UK and Ireland from 1996 to 2003. In 2003, he was appointed as Chairman and worldwide managing director of McKinsey, serving in this capacity until 2009. During his career with McKinsey, Ian
Davis served as a consultant to a range of global organizations across the private, public and not-for-profit sectors. He retired as senior partner of McKinsey & Company on 30 July 2010.
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