September 2023THE ART OF ELEVATION OMNIYAT.COMarabianbusiness.com 3 Contents September 2023 www.arabianbusiness.comSUBSCRIBE NOW +971 4444 3000 www.itp.com/subscriptionarabianbusiness#arabianbusinessarabianbusiness Special issue The 100 Most In uential People in the Middle East is a testament to the extraordinary accomplishments of the individuals who shape our region 40 13 57 FIRST WORD The diversity and impact of these in uencers underscore the ongoing success of our region and its global signi cance Matthew Amlot Editor-in-Chief matthew.amlot@itp.com cers nd 82 794 100 Most Inspiring Leaders 2023 FIRST WORD | Matthew Amlot, Editor-in-Chief Witness to inspiration MATTHEW AMLÔT @MatthewAmlot Welcome to the September issue of Arabian Busi- ness, where we bring you insightful perspec- tives, cutting-edge analyses, and inspiring stories from the heart of the Middle East’s business land- scape. As we navigate the ever-evolving world of commerce and innovation, this issue is packed with thought-provok- ing content that re ects the dynamic nature of our region. On our cover, we proudly feature Yasser Abdul Malak, the Chairman and CEO of Nestlé MENA, in his rst public interview since assuming the helm of this culinary giant. In a world where disruption is the new norm, we delve into what it takes to not only withstand disruption but to embrace it as a force for transformation. Nestlé’s journey under Yasser Abdul Malak’s leadership has been nothing short of revolutionary. As we explore his insights, we uncover how he has cultivated a culture of innovation within the realm of culinary arts, where tradition meets cutting-edge technology. Our exclusive interview sheds light on the future of food – an exciting narrative that hints at liquid sustenance as the next frontier. Moreover, Nestlé’s innovative approach extends beyond the culinary arts; we delve into how the conglomerate has cracked the code of winning the war on talent. As businesses across industries grapple with the challenge of attracting and retaining the best and brightest, Nestlé’s strategies provide invaluable insights for creating workplaces that nurture talent and drive success. Speaking of talent, the technology sector’s burgeoning talent shortage takes centre stage in this issue. Page 10 is dedicated to an in-depth exploration of this pressing issue, shedding light on its implications for businesses, innova- tion, and the broader economy. Technology’s impact transcends sectors, and on page 30, we delve into the captivating role of Arti cial Intelli- gence (AI) in reshaping our palates. Discover how AI is not only altering the way we perceive food but also rede ning the boundaries of culinary creativity. Diving deeper into the realm of excellence, we proudly present our inaugural hotel list – a compilation of the top 20 hotels that rede ne luxury and hospitality. Congratu- lations to these exceptional establishments for setting new standards and o ering unforgettable experiences to trav- ellers from around the world. Last but certainly not least, we present our annual feature, the 100 Most In uential People in the Middle East. While no means an exhaustive selection of every in uen- tial person in the region – no single publication could contain that all – this year’s selection process was undoubt- edly a challenge, a testament to the extraordinary accom- plishments of the individuals who shape our region. The diversity and impact of these in uencers underscore the ongoing success of our region and its global signi cance. Congratulations those featured in the list. With that I’ll let you get to reading. Until next time. This month we celebrate those names who continue to inspire this region to greater heightsarabianbusiness.com 5 SUBSCRIBE NOW www.itp.com/subscriptions +971 4 4443000 XPT VIEWS THE MAVERICK Ghassan Aboud, founder of the Ghassan Aboud Group, breaks down his journey from reporter to business titan, while showcasing the power of vision and disruptive entrepreneurship 24/08 • July 2023 UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 QATAR: QAR 15 Inclusive of VAT X LV interviews 24/07 • 1 June – 14 June 2023 UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 Inclusive of VAT Joseph Bradley on the democratisation of innovation INDEH NEWS 24/09 • August 2023 LEADERSHIP Former UK Prime Minister David Cameron breaks down why it’s the team behind a leader that leads to success UK: £ 4.95 UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 QATAR: QAR 15 Inclusive of VAT PUBLISHED BY AND © 2023 ITP MEDIA GROUP FZ-LLC. NO ICE 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 readers’ 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. PO Box 500024, Dubai, UAE Tel: +971 4 444 3000 Offices in KSA, UAE, UK, US, and INDIA I MEDIA GROU CEO Ali Akawi MANAGING DIRECTOR Alex Reeve DEPUTY MANAGING DIRECTOR Anil Bhoyrul EDI ORIA EDITOR-IN-CHIEF Rob Corder, rob.corder@itp.com MANAGING EDITOR Matthew Amlot, + 971 4 444 3264, matthew.amlot@itp.com SUB EDITOR Edward Liamzon, +971 4 444 3474, edward.liamzon@itp.com ARABIANBUSINESS.COM EDITOR AT LARGE Will Milner DESIGN SENIOR DESIGN MANAGER Geri Batara Sonny DESIGNER Mohammed Irqsosy S UDIO PHOTOGRAPHER Rajesh Raghav VIDEOGRAPHER Muhammad Kaleem VIDEO EDITOR Liju Cheruvathur RODUC ION PRODUCTION MANAGER Denny Kollannoor PRODUCTION COORDINATOR Mahendra Pawar SENIOR IMAGE EDITOR Emmalyn Robles E EN S & MARKE ING DIRECTOR OF AWARDS & MARKETING Daniel Fewtrell, +971 4 444 3684, daniel fewtrell@itp.com SENIOR MARKETING AND EVENTS MANAGER Anthony Chandran, +971 4 444 3685, anthony.chandran@itp.com DIS RIBU ION HEAD OF DISTRIBUTION AND NEWSTRADE Abdulrahim Alparambil DISTRIBUTION COORDINATOR Avinash Pereira CIRCULATION EXECUTIVE Rajesh Pillai AD ER ISING GROUP COMMERCIAL DIRECTOR Saraswati Agarwal, +971 4 444 3352, saraswati.agarwal@itp.com SENIOR COMMERCIAL MANAGER Neha Sikri, +971 4 444 3353, neha.sikri@itp.com SENIOR COMMERCIAL MANAGER Samir Glor, +971 4 444 3320, Samir.Glor@itp.com I GROU CEO Ali Akawi CFO Toby Jay Spencer-Davies CORPORATE WEBSITE itp.com CIRCULATION CUSTOMER SERVICE +971 4 444 3000 WEB arabianbusiness.com6 September 2023 100 MOST INSPIRING LEADERSarabianbusiness.com 7 100 MOST INSPIRING LEADERS Welcome to the Arabian Business Inspiring Leaders List, an exclusive compilation that celebrates the visionaries, inno- vators, and trailblazers who have left an indelible mark on the Middle East’s business landscape. In a region known for its rich history, diverse culture, and economic dynamism, these exceptional individuals have risen to the forefront, steering their organisations to new heights and shaping the future of the Arabian business world. e Arabian Business Inspiring Leaders List serves as a tribute to the outstanding achievements and unwavering commitment of those who have not only excelled in their respective elds but have also played a pivotal role in driving progress and transformation across industries. These leaders have harnessed their expertise, determination, and passion to create enduring legacies that extend far beyond their organisations. Our list spans a wide spectrum of sectors, from finance and tech- nology to healthcare, energy, and beyond. It encompasses entrepre- neurs who have built thriving startups from the ground up, as well as seasoned executives who have redefined the strategies of established conglomerates. What unites them is their unyielding dedication to excellence and their ability to inspire others with their achievements. As we delve into the stories of these remarkable leaders, you will discover the diverse paths they have taken, the challenges they have overcome, and the groundbreaking initiatives they have championed. Their journeys provide valuable insights and inspiration for aspiring leaders and professionals throughout the region and beyond. Join us on this inspiring journey as we shine a spotlight on the Arabian Business Inspiring Leaders List, showcasing the visionaries who are shaping the Arabian business landscape and leaving a legacy that will resonate for generations to come.8 September 2023 100 MOST INSPIRING LEADERS TOURISM Jerry Inzerillo is a globally cele- brated visionary leader with a five-decade career in tourism and hospitality. He has been a cham- pion for the sector and the people at its heart. In recognition of his dedi- cation to the hospitality industry, he was awarded the prestigious HOTELS magazine “Corporate Hotelier of the World Award” and the “Tourism for Peace Award” by WANGO. More recently, President Joe Biden awarded Inzerillo the Presidential Volunteer Service Award and is the recipient of the Nelson Mandela Children’s Fund Lifetime Achievement Award. In June 2018, Inzerillo was appointed by HRH The Crown Prince Mohammed bin Salman Al Saud to be the founding CEO of the Diriyah Gate Development Authority (now Diriyah Company). The $63.2bn project aims to develop 14-square kilometer area, encompassing world-class cultural, enter- tainment, retail, hospitality, educational, religious, o ce and residential assets, with the UNESCO World Heritage Site of At-Turaif as its anchor. In this role, Inzerillo is tasked with developing and implementing the master plan to turn Diriyah into one of the world’s greatest gathering places, restoring and reimagining the birthplace of the Kingdom. The year 2022 According to Inzerillo, 2022 was one of the most exciting years of this project’s lifetime, with Diriyah becoming one of the rst giga projects to open assets: Bujairi Terrace, the world’s latest premier cuisine o ering, and At-Turaif, the majestic UNESCO World Heritage Site. Diriyah, The City of Earth, has always been a conver- gence point for culture, celebrating its heritage through modern art exhibitions and showcasing local designers and talent. In Diriyah, we celebrate our culture in everything we do, because our culture is our identity. Roadmap Inzerillo reveals that he has always approached challenges in two ways: rst, building an excellent team, and second, metic- ulous planning. When The Crown Prince Mohammed bin Salman asked him to lead Diriyah Gate Development Author- ity, his rst task was to build a best-in-class team. Given the scale and complexity of the Diriyah development, meticulous planning is essential to delivering our goals and mitigating potential risks. “Assess, action, manage, three words to live by when managing a project like this,” says Inzerillo. Sustainability is at the heart of Diriyah. The Company has enrolled in KSA’s own sustainability certification program, MOSTADAM, and has been awarded the platinum level USGBC LEED pre-certi cation, rst of its kind in the Middle East. Protecting the natural environment and the way of life that has existed here for centuries is fundamental. Our approach must therefore be holistic - conserving, enhancing, and celebrating the community and environment. The rst phase of the Diriyah masterplan, for example, will be built entirely in the traditional Najdi architectural style, a de n- ing part of Diriyah’s identity and culture. “Given its profound historical roots and strong connection to the Kingdom, our work is centred on craft- ing a sustainable project while preserving the identity and natural environment of this exceptional place,” concludes Inzerillo. 1. JERARD J. INZERILLO Group CEO DIRIYAH GATE DEVELOPMENT AUTHORITY (DGDA)arabianbusiness.com 9 100 MOST INSPIRING LEADERS ENERGY In his current position at Aramco, a prominent integrated energy and chemicals company, and a signi cant global provider of crude oil, Nasser also serves as a member of the company's board of directors. Throughout his extensive career spanning 40 years within the company, he has occupied various leadership roles, including senior vice president of Upstream. In this capacity, he led Saudi Aramco's most signif- icant capital investment initiative in its integrated oil and gas portfolio. Under his guidance, the company is augmenting its upstream prominence by expanding into the downstream and chemicals sectors of the petroleum value chain. This expansion involves notable investments and joint-venture collaborations both within the Kingdom and overseas markets. Backed by multiple noteworthy achievements Nasser actively promotes education and training as well as drives the company's innovation and technology strategy. He particu- larly champions the advancement and development of Saudi youth and strongly supports the Young Leader’s Advisory Board (YLAB), which facilitates a connection between Saudi Aramco leadership and the perspectives of young professionals.At the same time, Nasser is leading the way in driving Saudi Aramco's e orts towards generating cleaner energy and products. These endeavours encompass strategic investments in promising tech- nologies, including next-generation fuel-engine interfaces, processes that convert crude oil into chemicals, applications for renewable energy, and the support of emerging startups dedi- cated to o ering cleaner energy solu- tions. His involvement extends to broader industry initiatives focused on reducing greenhouse gas emissions, notably his participation in the Oil and Gas Climate Initiative (OGCI). This underscores his commitment to addressing environmen- tal concerns at a larger scale through collaborative e orts within the energy sector. Furthermore, Nasser champions the establishment of an efficient and easily accessible supply chain ecosystem. This ecosystem is designed to accommodate the evolving procurement needs of Saudi Aramco. Notably, his emphasis on inclusivity sees the active involvement of small and medium-sized enterprises (SMEs), contributing to the growth and sustainability of the supply chain network. His vision aligns with ensuring that the procurement processes are streamlined, responsive, and capa- ble of meeting Saudi Aramco’s expanding requirements while fostering an environment of collaboration and mutual bene t among various business entities. In addition to his corporate roles, Nasser occupies positions in various advisory boards and councils. These include the International Advisory Board of the King Fahd University of Petroleum and Minerals, the Board of Trustees of the King Abdullah University of Science & Technology, the World Economic Forum’s International Business Council (IBC), the Massachusetts Institute of Technology Presidential CEO Advi- sory Board, the JP Morgan International Council, and the Black- Rock Board of Directors. His involvement in these advisory boards and councils showcases his active engagement in diverse institutions while his participation underscores his commitment to fostering knowledge, technology, and global economic discussions. These roles re ect Nasser’s dedication to promoting innovation, education, and strategic deci- sion-making across di erent sectors, strengthening his posi- tion as a thought leader and in uencer in energy, technology, as well as in nance. 2. AMIN NASSER President and CEO SAUDI ARAMCONext >