DARING INNOVATION AND BOLD AMBITION: LEADING A LUXURY BRAND THE PETER HARRISON WAY RACING INTO THE FUTURE WITH RICHARD MILLE MAY 2021 # 169 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 www.amaala.com AMAALA, located along Saudi Arabia’s northwest coast, is an ultra-luxury destination that focuses on curating transformative personal journeys inspired by arts, wellness and the purity of the Red Sea. AMAALA will allow travellers to immerse themselves in the finest wellness, art, culture, sports and fitness offerings, redefining the tourism experience. Hidden A GemM AY 2 0 2 1 C EO M I D D L E E A S T 3 ED IT OR ’S P OR TR AI T: O LI VE R @ P HO TO SO LU TI ON S. M E W hat are some of the ways that you get a sense of the weather? I don’t mean the actual weather – we live in the UAE after all, so it’s usually, especially now, just one level or another of ‘hot’. I mean the climate, the mood, the overall sentiment. Amongst business owners, it pays to have one’s antennae well attuned. One of the ways to achieve this is, of course, by listening. We learn so much when we stop talking and listen to others. To listen actively is one of the privileges of my work. I get to hear first- hand the insights of leading men and women in business and they invariably broaden my horizons. A perfect example is our cover star, the inimitable Peter Harrison, the force behind Richard Mille in this part of the world, who shares abundant insights with CEO Middle East about what it take to steer a prestigious brand through a crisis. “Business leaders need to be decisive, confident yet empathetic. They need to be committed to doing what is required to support their teams and the business simultaneously. In the past year, I’ve seen a lot of marketing teams collapse, but also have seen others thrive. Understanding your client is the biggest factor,” he tells me, as he reveals the brand’s ambitious strategy for 2021 and beyond as it partners with UAE Team Emirates on the top of their triumph at the Tour de France. It seems that having spent much of the past year circling wagons, streamlining, adapting and digging deeper than ever before to really evaluate what is crucial to a business and what is not, an appetite for achievement, progress and forward motion is once again infusing many of the men and women we speak with. C-suite recruitment specialists Egon Zehnder write that behind every crisis – especially a double-pronged one, lies an opportunity for leaders to prove their true potential. “Fuelled by adrenaline at the start of the crisis, many leaders were able to exceed expectations. Sadly, they failed to sustain this high level of performance over time. This mirrors a typical reac- tion. When faced with a crisis, individu- als normally move through four stages: from “shock” to “response”, moving on to “resolve”, namely adopting new solutions, and finally “transform”, when individuals change and accept the new normal,” write Golnaz Bahmanyar, Patrick Nader, and Hana Habayeb. Their leadership assess- ments may be just the thing you need to help identify the individuals who will take your business to the next level now that we know we will be living with the effects of Covid-19 for a while to come. After all, as a leader, your responsibility is to enable and empower your cohort carry out its function and objectives to the best of its ability. Whether that is reinforcing the trust that underpins your digital technology – Thales CEO Patrice Caine has some incredible insights on this issue – or look- ing at the latest way to ensure your own optimal performance thanks to the latest in cutting-edge executive wellness, there are myriad ways to ensure that you’re one step ahead. There’s such a wealth of intel- ligence within these pages that I feel genu- inely privileged and proud to share it with you ahead of the summer months... which I sense aren’t going to be as traditionally ‘quiet’ as we have usually experienced. Call it a sense of the climate to come... 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 NAVIGATING THE CURRENT CLIMATE TAKES REAL SKILL sense of the climate Jolaaaaaaaaaaaaaaaaa Chudy Editi Chi f Teamwork. It’s tempting to draw an analogy between leading a business and steering a boat. We won’t labour the point.4 C EO M I D D L E E A S T MAY 2 0 21 To receive your copy delivered directly to your door, subscribe online at www.itp.net/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. 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MEDIAMAY 2 0 21 CEO MIDDLE E A ST 5 CONTENTS MAY 2021 # 169 C O V E R PH OTO by Xavier Ansart 3 EDIT OR’S LETTER 8 TRUST I S SU ES Does your team trust its tech? Patrice Caine, CEO of Thales, outlines a roadmap for alleviating digital dilemmas 10 DRIVING SUS TAINABIL I TY One of the world’s largest multinational consumer goods companies, P&G is spearheading a sustainability drive. Omar Channawi, President of Procter & Gamble Middle East, East and West Africa, tells CEO how 14 FA MILY B U SINESS COUNCIL Family businesses have always been a crucial part of every economy, however within the GCC their contribution to economic growth can’t be overstated, writes Omar Alghanim, Chairman of the Family Business Council - Gulf 16 E G ON Z E HNDE R Leadership assessments can give your business the edge 20 TH E D I LEM M A O F BUSI N E S S TR AV EL Tim Cordon, area senior vice president, Middle East & Africa at Radisson Hotel Group, discusses hybrid solutions in hospitality and corporate trips 10 8 16 14 206 CEO MIDDLE E A ST MAY 2 0 21 CONTENTS 28 IF T H E SHOE F I TS Carmina makes beautiful shoes; its regional distributor tells CEO about how two family businesses have joined hands… and feet 30 WA R M M E TA L Edgy accessories for the man or woman with a refined aesthetic 31 PA N E R A I 2 0 2 1 Grail watches for horological connoisseurs 32 TH E L ATEST AT RO LE X The ultimate wristwatch status symbol, Rolex unveils instant must- haves from its 2021 new collections 22 CO VER S T OR Y: RICHARD MIL L E The luxury watchmaker’s CEO Peter Harrison on leading through adversity, strategic marketing and the importance of brand culture both inside and outside the organisation 28 31 30 32CONTENTS MAY 2 0 21 CEO MIDDLE E A ST 7 34 C I RC LE TH I S WA G O N The Mercedes G Wagon gets a 50th anniversary edition to mark the UAE’s jubilee year 36 VIS TA J ET VistaJet is redefining private c orporate travel 38 SHORT- HA UL AD VEN T URE Anantara Dhigu Maldives is the perfect destination from UAE – short on mileage and long on luxurious, barefoot escapism 40 TU RBOC HA RG E Y O U R PERF ORMANCE Is reversing the ageing process finally a reality? Dr. Shai Efrati of Aviv Clinics, opening in the UAE, claims a resounding ‘yes’ that’s backed by science 44 BIOHA C KING: T H E NEW W E LLN ES S FRO N TI ER Can a personalised vitamins regiment give you a mental and physical edge? CEO finds out 48 HEALT H IS WEALT H If your team member isn't feeling mentally great, it will have an impact on their productivity and eventually trickle down and impact the business 50 FI N E J E W E LLER Y Dolce and Gabbana high jewellery, the ultimate statement piece 36 34 40 38 448 C EO M I D D L E E A S T MAY 2 0 21 PATRICE CAINE acial recognition, 5G, artificial intelligence, digital tracking… There’s no denying that some people are increasingly wary of the inno- vations that are meant to improve their day-to-day lives. I completely understand their reticence in certain cases. Such con- cerns are legitimate, and public debate is important, especially in areas like transport, security and defence where lives could be at stake. Their questions need to be answered. Because only by addressing the doubt and uncertainty surrounding certain innovations will it be possible to restore people’s trust in new technologies and meet standards of public acceptability. At Thales, we are well aware of the issues and believe we can help answer some of these important questions. Our high-tech solutions are designed to meet the essential needs of society, and we in- vest heavily to ensure they achieve that objective. We value our human capital, with 33,000 R&D engineers and 3,000 researchers, and we commit substantial financial resources to our innovation efforts, with over €1bn ($1.20bn) in self-funded R&D last year alone. And we invest in a policy of open innovation, with 1,000 start-ups qualified over the last five years, 30 framework agreements with universities and R&D centres around the world, and 20 joint laborato- ries with leading research institutes. But our mission doesn’t end there. Our role is also to promote what I would call “enlightened innovation”. The ability to explain what we are doing and why, and to ensure that we meet our ethical commitments, is the key to restoring people’s trust in technology, not as an end in itself but as a source of human progress. But how will people trust any tool or technology – even one with the potential to overcome seem- ingly insurmountable challenges in an increasingly complex world – if they do not understand how it works? This is the essence of the Thales Group’s purpose of “building a future F TECHNICAL PROGRESS HAS ALWAYS RAISED QUESTIONS AND CONCERNS. BUT TODAY, THESE REACTIONS ARE AMPLIFIED. ADVANCEMENTS SUCH AS FACIAL RECOGNITION, 5G, ARTIFICIAL INTELLIGENCE AND DIGITAL TRACKING ARE MEANT TO IMPROVE OUR LIVES, BUT THERE’S NO DENYING THAT SOME PEOPLE ARE WARY OF THEM. PATRICE CAINE, CEO OF GLOBAL LEADING TECHNOLOGY SOLUTIONS PROVIDER, THALES, OUTLINES THE CASE FOR HOW TO ENSURE YOUR TEAM TRUSTS ITS TECH TRUST ISSUESMAY 2 0 21 CEO MIDDLE E A ST 9 we can all trust”. A company needs to play a role in society by engaging with its stakeholders (employees, customers, suppliers, shareholders, governments, etc.). And that role is especially impor- tant today, in a world of fake news and growing suspicion, even resentment. Technical progress has always raised questions and concerns. Remember the fear surrounding the first steam trains, or the 19th century revolts of the English Luddites and the Lyon silk weavers against new textile machinery. But today, these reactions are amplified by the immaterial nature of many modern innovations. Mill work- ers in the 19th century knew more or less intuitively how a mechanical loom worked, and our ancestors had a basic understanding of the technology behind steam trains or the first automobiles. By and large, their concerns were linked to the upheavals these new machines would cause, to the fear of losing their jobs, or to the anxious belief that travelling so fast and so far would disrupt the space- time continuum. Today, most people have little notion about how their smartphones work. They share their most personal details with computers in a mysterious cloud. As for the Internet of Things, despite all the chatter, does anybody know what it actually is? To trust somebody, you necessarily need to know them, where they come from, what makes them tick. And it’s the same for technological innovations. Knowledge begets trust. Ignorance begets fear and loathing, half-truths and conspiracy theories. There is really only one way to build or rebuild people’s trust in technol- ogy – education. And while our school systems clearly play an important part in teaching a basic understanding of the tools and technologies that have become part of our daily lives, tech companies also have a crucial role to play. “A technology in itself is neither good nor bad for humanity – it all de- pends how people use it.” To be considered trustworthy, tech companies need to act responsibly and overtly. They need to educate their cus- tomers and explain their innovations. Because a technology in itself is nei- ther good nor bad for humanity – it all depends how people use it. As users of a technology, we citizens need an enlight- ened view of its merits and limitations so we can have an informed opinion. It can be hard to convince the general public of the benefits of a new technology. The discovery of radioactiv- ity, for example, brought incalculable benefits to the practice of medicine, and it opened the door to weapons of mass destruction. Are we to blame Marie Cu- rie for these devastating consequences? Or does the responsibility lie with users? Today’s bugbears are cybercrime, tracking and the “rise of the machines”. We can only overcome these fears by ex- plaining things simply and being trans- parent. This is the reasoning behind the Thales TrUE AI approach to artificial intelligence, for example. We believe that people can only be expected to trust AI if it is Transparent (can be seen to meet specifications and follows clear rules), Understandable (can explain why a decision is made and implemented, in a language understandable to humans), and Ethical (complies with legal and moral frameworks). In the same spirit, every year we pub- lish a cyberthreat intelligence report. For Thales, the idea is not so much to promote our own solutions as to offer a degree of enlightenment about topics of both tech- nological and societal importance. At Thales, we consider it our responsibility to explain things, not only to the public at large, but also in our day-to-day interactions with our customers. Because I firmly believe that human intelligence is an integral part of the response to the major challenges of our times, and that no problem or issue is too difficult to be resolved through science and technical progress. “TO TRUST SOMEBODY, YOU NECESSARILY NEED TO KNOW THEM; IT’S THE SAME FOR TECHNOLOGICAL INNOVATIONS” Machine learning Thales is developing complex AI systems that is transparent, understandable and ethicalNext >