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Colm McLoughlin (left) and George Horan take on new posts as Dubai Duty Free looks forward to exciting opportunities | |
UAE. Dubai Duty Free, the world’s leading single duty free operation in 2010, today announced a series of top-level management changes designed to drive growth.
In consultation with H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Dubai Duty Free, long-time Managing Director Colm McLoughlin announced a change in his designation to Executive Vice Chairman, with overall responsibility for the airport retail operation and its subsidiary businesses.
McLoughlin also announced that his Deputy Managing Director George Horan has been appointed President of Dubai Duty Free, with responsibility for the day-to-day running of the operation.
Further changes include the appointment of Salah Tahlak as Senior Vice President, Corporate Communications and Ramesh Cidambi as Senior Vice President, IT and Logistics.
Bernard Creed is promoted to Vice President of Finance; Sean Staunton becomes Vice President of Operations and Saba Tahir is named Vice President of Purchasing.
Nic Bruwer becomes Vice President of Human Resources and Sinead El Sibai is named Vice President of Marketing.
Commenting on the designation changes, Colm McLoughlin said: “I am delighted to announce the changes in certain management titles and believe that they are a necessary step in realigning our business with our growth plans for the future.
“Dubai Duty Free will celebrate 28 years of operation in December this year and during that time the operation has grown to be the single largest airport retailer in the world [it recorded sales of US$1.27 billion in 2010, just ahead of Incheon International Airport’s US$1.26 billion -Ed].
“We are very excited about our future plans which in the short term will see our retail space grow by almost +50% with the opening of Concourse 3 at Dubai International Airport next year. It is important that our management structure reflects these growth plans.”
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Fragrance sales alone represented a US$99 million business last year at Dubai Duty Free |
Dubai Duty Free currently employs 4,000 staff, with 52 of the original 100 workforce still in active service. The operation announced sales of AED2.548 billion (US$698.2 million) for the first six months of 2011, representing a +16.6% increase over the same period last year.
Dubai Duty Free opened for business on 20 December 1983. Colm McLoughlin was one of a team of ten from Irish airport operator Aer Rianta, which also included George Horan, who moved to Dubai in 1983 at the request of the Dubai Government to set up Dubai Duty Free.
Following the successful opening, McLoughlin was asked to remain as General Manager of the start-up operation, later becoming Managing Director. George Horan also remained as Retail Manager, going on to become Deputy Managing Director.
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“It is important that our management structure reflects these growth plans“ |
Colm McLoughlin, Executive Vice Chairman, Dubai Duty Free |
Under McLoughlin’s leadership, Dubai Duty Free rapidly grew and expanded throughout the 1980s and 1990s with unbroken year-on-year sales growth. The opening of Sheikh Rashid Terminal in 2000 brought with it ta new, expansive 5,400sq m retail operation and the resultant soaring in sales for the best part of the decade.
The opening of Emirates Terminal 3 in October 2008 provided a further major expansion of the retail operation. Despite the economic downturn in 2009, Dubai Duty Free’s turnover continued to grow and reached US$1.14 billion that year. In 2010 sales topped a record US$1.27 billion, meaning that the operation retained its position as the single largest airport retailer in the world in terms of turnover for the third consecutive year.
Dubai Duty Free operates the Aviation Club Leisure Complex which includes the Aviation Club, The Irish Village, The Century Village and Dubai Tennis Stadium, the home of the Dubai Duty Free Tennis Championships.
In January this year, the operation signed a management agreement with the Jumeirah Group to manage the five- star, 293-bedroom Jumeirah Creekside hotel, which Dubai Duty Free has developed. Located on the grounds of the Aviation Club, the Jumeirah Creekside is due to open later this year.
COMMENT: These changes are all about gearing Dubai Duty Free for the next stage of its extraordinary journey as vast new airport real estate comes on stream, writes Martin Moodie..
The tale of how a start-up in unpromising, difficult surroundings in 1983 grew into a US$1.27 billion, world-renowned business has been documented many times but never loses any of its impact in the retelling.
Stories like that don’t just happen. Dubai Duty Free’s rulers and its management shared a vision from the outset, to not only create a world-class sales operation but also to champion the emirate of Dubai. Colm McLoughlin was the man charged with executing that vision and he has done so with profound and prolonged success, creating one of the world’s great retail phenomenons in the process.
He has consistently acknowledged the strength, consistency and loyalty of his senior management team down the years and it is particularly notable that he has chosen to recognize and reward one of the quiet heroes of the business, George Horan, naming him to the key role of President.
McLoughlin will play more of a strategic role going forward with Horan taking full charge of operations. That’s a good mix, supported by a highly experienced senior management team, no doubt doubly motivated by their respective promotions. The travel retailer seems set fair to maintain its relentless upward momentum.
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