AUGUST 2021 # 172 THE GUIDE TO GOOD BUSINESS AND BETTER LIVING UA E AED 20 KSA SAR 20 BA HR A IN BHD 2 KUWA IT KWD 2 OM AN OMR 2 Sunil Kaushal, regional CEO, Africa and the Middle East, Standard Chartered “VISIBLE LEADERSHIP MATTERS, ESPECIALLY WHEN THINGS ARE HARD”AU GU ST 2 0 2 1 CEO MIDDLE E A ST 3 CONTENTS AUGUST 2021 # 172 6 EDIT OR’S LETTER 8 SUS TAINABL E INVES T ING Companies must consider investment imperatives to gain competitive advantages, says Adnan Merhaba 10 MARKET I NG Communications expert Zaib Shadani believes the art of great communication lies not in speaking, but in active listening 12 RESIL I ENCE Destigmatising conversations around mental health in the workplace is one of the most pressing issues of our times, writes Aakanksha Tangri 14 T E CHNOL OG Y Every business is now a digital business in a post-pandemic reality, explains Subbu Hariharan of Canon 22 BUSI N E S S LE ADERSH I P Authors Thomas Keil and Marianna Zangrillo on why strong management teams are key to a CEO's success 8 1012 144 CEO M IDDLE E A ST AU GU ST 2 0 2 1 CONTENTS 24 CE O WISDOM Jakson Peters, CFO at Property Finder, discusses funding for startups and how to narrow down potential investors 26 WO R K P L AC E There are steps that leaders and managers can take to reduce stress in returning to the office 28 L E ADERSHIP P R OF IL E In conversation with Bhavin Turakhia, CEO and co-founder of Zeta 32 CONS TRUC TION Michael Obermair, CEO of Wolf System, has been championing a transformative approach to the construction industry 16 24 28 26 32 SUNIL KAUSHAL The digital journey is ongoing, and it has been transformational CO VER S T OR Y: AU GU ST 2 0 2 1 CEO MIDDLE E A ST 5 CONTENTS 34 H O SPITA L IT Y Flavio Briatore, the former F1 boss and the man behind Billionaire Dubai, tells CEO Middle East that while the dance floors may be closed, his entertainment concept proves the power of effective adaptation in the face of crisis 36 W E LLN ES S Technogym’s Erica Alessandri explains how executive performance and optimal wellness are predicated on making time for exercise 37 TI M E PI EC ES As MB&F celebrates ten years of its legacy machines, the LMX makes its debut 44 H O SPITA L IT Y Atlantis Dubai’s brand-new initiative, Atlantis Atlas Project, signals the destination’s commitment to caring for people and planet 46 VENUES Tresind Studio deserves its reputation as one of Dubai’s most innovative restaurants 47 RES TA U R A N T S We head to the Hunter & Barrel restaurant for a searingly good experience that is casual but never cavalier 50 FI N A L TH O U G H TS Dr Salima Hamouche, assistant professor at Canadian University Dubai, shares ideas on how to ensure happiness and well-being at work 34 44 36 50 376 C EO M I D D L E E A S T AU GU ST 2 0 2 1 ED IT OR ’S P OR TR AI T: O LI VE R @ P HO TO SO LU TI ON S. M E T his is the last editor’s letter that I will write for this magazine. After five years at the company that publishes it, I am moving on. I feel – in common with many people, I suspect – that the past 18 months spurred me to do a little soul-searching. A little introspective thought can go a long way, and I’m sure I’m not the only one whose perspective has shifted in a new direction of late. A global pandemic and a whole heap of social distancing will do that do a person, although if I’m honest, I’ve always felt a little calling to work more independently and for myself. That little calling became impossible to ignore more recently, so there we go and here we are. I’m delighted to see Standard Chartered’s Sunil Kaushal on the cover this month – he was one of my first ‘big’ interviews when I joined the magazine and I’m sure you’ll enjoy reading this slightly more personal insight into his leadership and values. I’ve always enjoyed getting to know what makes people tick and I think I’ve learned a lot of valuable lessons through learning about others. We all have something of value to share, I truly believe this. I’ve been more than fortunate in my publishing career to have met and interviewed incredibly inspiring men and women. Their stories of success – and their honest admissions of failure – have never failed to inspire me and it has been one of the most rewarding aspects of my role, the opportunity to serve as a conduit in sharing their insights, life lessons and journey with a wider audience. Throughout my tenure at CEO Middle East, I have been keen to shine a spotlight on men and women whose vision not only builds empires but seeks to leave a lasting legacy for the greater good. Amongst the first people I interviewed when I took over the role of editor-in-chief was Faris Saeed, a visionary real estate developer who had built The Sustainable City. His commitment to his purpose was a huge influence on me and really inspired me to evolve CEO to focus on sustainable, ethical leadership, innovation and vision. I’ve always pushed to feature more women on our covers. International Women’s Day is problematic to me for several reasons, not least because many brands choose to utilise the colour pink to its full potential against a backdrop of platitudes appreciating women, which then dwindles into very little actual change through the rest of the year. Women are still under-represented in board rooms, are paid less than their male counterparts and represent only around a quarter of government and leadership positions globally. As HRH Princess Lamis Bint Majed Saud AlSaud told CEO Middle East, “Across our region, perspectives of women are changing but there is always more to do. Men must be part of that conversation.” I hope that when it comes to leaving personal and professional legacies for the greater good, that we are all part of a continuing conversation. It’s a purpose of mine that I hope has been felt through these pages. It’s not goodbye, it’s see you later. Jola Chudy Editor-in-Chief Share your views on thought leadership and innovation by getting in touch. Q U ESTI O N S? CO M M E NTS? Jola.Chudy@itp.com JOLA CHUDY Editor in Chief WELCOME TO THE AUGUST EDITION OF CEO MIDDLE EAST Banking on experience. Sunil Kaushal sees integrity as a compass that guides one through their personal and professional lives. EDITOR LETTERAU G U S T 2 0 2 1 C EO M I D D L E E A S T 7 To receive your copy delivered directly to your door, subscribe online at www.itp.com/subscriptions The most important business people and CEOs talk to the most important magazine The publishers regret that they cannot accept liability for error or omissions contained in this publication, however caused. The opinions and views contained in this publication are not necessarily those of the publishers. Readers are advised to seek specialist advice before acting on information contained in this publication which is provided for general use and may not be appropriate for the reader’s particular circumstances. The ownership of trademarks is acknowledged. No part of this publication or any part of the contents thereof may be reproduced, stored in a retrieval system or transmitted in any form without the permission of the publishers in writing. An exemption is hereby granted for extracts used for the purpose of fair review. ITP MEDIA GROUP CEO ALI AKAWI MANAGING DIRECTOR ALEX REEVE GENERAL MANAGER , ARABIAN BUSINESS GROUP EDDIE TAYLOR EDITORIAL EDITOR-IN- CHIEF JOLA CHUDY jola .chudy@itp.com ART DIRECTOR ADRIAN LUCA DESIGNER MOHAMMED IRQSOSY SUB EDITOR EDWARD LIAMZON EVENTS & MARKETING DIRECTOR OF AWARDS & MARKETING DANIEL FEWTRELL +971 4 4 4 4 3684 Daniel Few trell@itp.com ADVERTISING GROUP COMMERICAL DIRECTOR AMIT CHOPRA +971 4 4 4 4 3463 amit .chopra@itp.com SENIOR SALES MANAGER PANKAJ SHARMMAA +971 4 444 3351100 pankaj.sharmma@@itpp.cocom PO BOX 500024, DUBAI, UAE +971 4 4 4 4 3000 OFFICES IN ABU DHABI, DUBAI & LONDON PHOTOGRAPHY SENIOR PHOTOGRAPHERS EFRAIM EVIDOR ADEL RASHID STAFF PHOTOGRAPHERS AASIYA JAGADEESH FRITZ JOHN ASURO AJITH NARENDRA PRODUCTION & DISTRIBUTION GROUP PRODUCTION AND DISTRIBUTION DIRECTOR KYLE SMITH PRODUCTION MANAGER BASEL AL KASSEM PRODUCTION COORDINATOR MANOJ MAHADEVAN SENIOR IMAGE EDITOR EMMALYN ROBLES CIRCULATION DISTRIBUTION AND CIRCULATION MANAGER EVIJIN PATHROSE CIRCULATION EXECUTIVE RAJESH PILLAI DISTRIBUTION COORDINATOR AVINASH PEREIRA ITP LIVE GENERAL MANAGER AHMAD BASHOUR ITP GROUP CEO ALI AKAWI CFO TOBY JAY SPENCER-DAVIES PUBLISHED BY AND © 2021 ITP MEDIA GROUP FZ-LLC. MEDIA8 C EO M I D D L E E A S T AU GU ST 2 0 2 1 SUSTAINABLE INVESTING n pre-pandemic times, progress towards transformational change remained remarkably slow, despite climate change and sus- tainability rising higher than ever before on large companies’ strategic agendas. Although Covid-19 temporarily pushed climate change off daily newsfeeds, 2020 was a year in which political ambi- tions to address climate change started becoming much more robust. Yet overcoming the climate change crisis can never come to fruition through aspirations alone. Decisive action – driv- en by a plethora of actors working in sync – is the most prudent formula to deliver solutions that yield sustainable results in a timely and cost effective manner. As nations pursue strategies to honour their climate change obligations, the main driver behind success in this direction will be governments, backed by policies and regulatory tools that can move the needle in significant ways. The European Green Deal and the Biden administration’s commitment towards a greener future provide a substantial boost towards the global community’s ultimate objective. More than 110 coun- tries have pledged carbon neutrality by 2050, with China following suit by 2060. In 2020 alone, the European Union (EU) and 15 other countries published a Hydrogen roadmap to decarbonise the most difficult economic segments, such as heavy transport and energy intensive industries. Moreover, a shift towards legal mandates also transpired, with the UK a prominent example. The govern- ment introduced legislation for net zero by 2050, while a recent court ruling in The Hague mandated Royal Dutch Shell to cut its emissions. The other critical driver are the capital investors, and a significant shift in attitude towards their allocations and attention to green initiatives has been observed. For example, last year saw the number of signatories aiming to work according to the Principle of Respon- sible Investments (PRI) grow by 28 THE POWER OF GREEN In order to successfully leverage truly green economic opportunities, companies must consider investment imperatives to gain competitive advantages I By ADNAN MERHABA, partner and Energy practice lead at Arthur D. Little MEIAU GU ST 2 0 2 1 CEO MIDDLE E A ST 9 SUSTAINABLE INVESTING percent year on year, with assets under management (AUM) amounting to $103 trillion – up from $60 trillion five years ago. Arthur D. Little’s pan-European research also indicates that 72 percent of fund managers surveyed considered the approach to ESG as the most important differentiating factor when choosing an investment team, while the allocation of funds for US state and local pensions to private equity was 3.6 percent in 2001, whereas in 2019 it had almost trebled to 9.1 percent. A primary benefit of this increased private equity allocation is that large new funds are made available for invest- ment opportunities considered as higher risk. This makes it much more likely that strong yet disruptive companies, such as those in the green-tech sec- tor, can be properly funded. The rise of Special Purpose Acquisition Compa- nies (SPACs) has created an avenue to monetise investments in new ventures by taking them public through an IPO. Energy and technology sectors domi- nated the SPAC landscape in 2020 and H1 2021, with the likes of Charge Point, Quantumscape, Lucid Motors, and many others raising capital through a SPAC merger. This accelerated momentum towards greener future, driven by government policies and investors, has taken many corporates by surprise, propelling a newfound sense of urgency in board rooms and within senior manage- ment teams. On one hand, they need to respond to demands to reduce their carbon footprints, with pressure coming from new regulations and activist share- holders. On the other hand, they need to reorient themselves to leverage the tril- lions of dollars of opportunities that lie ahead in the green economy. Corporates play a critical role in not only develop- ing new technologies and businesses capable of meeting these new demands, but also collaborating with broader ecosystem players – such as universi- ties, R&D institutes, and startups – to scale-up promising technologies and harness their expertise in management and operational excellence. With the above considerations in mind, investing for corporate strategic advantage to leverage opportunities arising from green economy activities requires companies to focus on two im- peratives as they strive to take advantage of greater volumes of better-connected investment funding. Firstly, they should adopt new approaches to nurturing disruptive ventures that may be outside the normal core business. Secondly, they should work to shift the entire business ecosystem, which is often needed to successfully deliver green initiatives. A starting point for a corporate would be to reflect upon the following key ques- tions, answers to which will guide their approach towards this paradigm shift: 1. What is the role of innovation in my organisation and how effective is in- novation management? – Build within vs Build with? 2. How does my company engage with disruptive startups? Here, the role of corporate venturing must be defined, and striking a balance between stra- tegic and financial objectives must be achieved. 3. How effectively does my company leverage new paradigms in green investments, such as SPACs, green funds, and capital? 4. How does my company approach col- laboration in the broader ecosystem and work with competitors and play- ers from other industries? 5. How well does the underlying culture within my organisation support my Green Gambit? A strategic approach, rather than an opportunistic perspective, towards the green economy is a winning strategy and the right way forward for corporates. “THIS ACCELERATED MOMENTUM TOWARDS GREENER FUTURE, DRIVEN BY GOVERNMENT POLICIES AND INVESTORS, HAS TAKEN MANY CORPORATES BY SURPRISE.” Worldwide action. More than 110 countries have pledged carbon neutrality by 2050.Next >