OCTOBER 2023 # 197 CEO MIDDLE EAST OCTOBER 2023 ISSUE #197 UAEAED 20 KSASAR 20 BAHRAINBHD 2 KUWAITKWD 2 OMANOMR 2 QATAR QAR 20 Shaji Ul Mulk, Chairman, Mulk International, sits down to discuss his journey as a leader, entrepreneur and visionary INDUSTRY TITANOCTOBER 2023 CEO MIDDLE EAST 3 CONTENTS OCTOBER 2023 # 197 06 EDITOR’S LETTER 1 2 WELLNESS While professional life can sometimes be demanding, it’s crucial to prioritise mental and emotional recovery, says Hanan Nagi, founder and CEO of HNI 18 TOURISM Guided by Saudi Vision 2030, Diriyah is globally showcasing the kingdom's rich history while nurturing its tourism and culture sectors, with the ambition of becoming one of the world's premier gathering destinations 24 LEADERSHIP Team leadership starts with personal leadership – developing the self- awareness and ability to lead yourself, believes peak performance mentor David Godfrey 26 LEADERSHIP In one of the exciting places on earth, Saudi boards will need to rethink their roles, better anticipate threats and constantly evaluate their performance, says Richard Guest, partner at Heidrick & Struggles 12 1824 264 CEOMIDDLE EASTOCTOBER 2023 CONTENTS 28 HEALTHCARE The UAE is heavily invested in its healthcare system. Not just for health security, but also as a source for diversified economic growth, says Lorenzo Jooris, CEO of Creative Zone 32 HEALTHCARE How employers can prioritise heart health in the workplace, by Mohamed Ezz Eldin, Head Gulf Countries, Innovative Medicines – Novartis 38 SUSTAINABILITY Reducing carbon emissions and building a more sustainable future energy mix is at the heart of the diversification strategies being rolled out across the Gulf, says Rasih Ozturkmen, founder of Carbonaires 28 48 32 Shaji Ul Mulk, chairman of Mulk International, sits down with CEO Middle East to discuss his journey as a leader, entrepreneur and visionary COVER STORY 20OCTOBER 2023 CEO MIDDLE EAST 5 CONTENTS 40 TRAVEL Bleisure as a rising concept can be attributed to the modern work environment which has been redefined by technological advancements, says Ali Haider and Nadeem Ahmed of Nomadic 42 TECHNOLOGY The sheer pace of progress in the AI space is putting added pressure on business decision-makers in terms of how these advancements fit into their existing data management strategy, says Johnny Karam, Managing Director of Veritas Technologies 44 TECHNOLOGY Hyper-realistic AI-generated content may have a stronger persuasive effect on target audiences than content previously fabricated without the benefit of AI technology, believes Michelle Cantos, Sam Ridedell and Alice Revelli from Mandiant Threat Intelligence 48 FAMILY BUSINESS Navigating family business transformation and succession planning in Saudi Arabia, by Kassem Younes, Senior Managing Director, Ankura 56 TIMEPIECES We take a look at the latest from Audemars Piguet 58 FINAL THOUGHTS Countering knee-jerk reactions in the workplace will make for a better environment for teams and leaders, says Emilie Boutin, MSW, Clinical Social Worker (Canada), The Lighthouse Arabia 38 44 40 56 426CEO MIDDLE EAST OCTOBER 2023 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 SEPTEMBER 2023 #196 UAEUAEUAEEUAAED 20AEAED 20AED2A KSAKSASSAR 20AR 20ARARS BAHRAINBAHRAINHRAHRAINABHD 2BHD 2 BHD2 KUWAITKUWAITWKWD 2KWD 2KWOMANOMANAOMOMOMR 2 OMR 2 OMR 2 2OMQATARQATARATAA QAR 20200 Abdallah Abu-Sheikh, CEO and co-founder of Astra Tech, reveals how his firm is becoming the WeChat of the Middle East as it hits 150 million users ULTRA FAST The publishers regret that they cannot accept liability for error or omissions contained in this publication, however caused. 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CEO ALIAKAWI CFO TOBY JAY SPENCER-DAVIES MANAGING DIRECTOR ALEX REEVE DEPUTY MANAGING DIRECTOR ANIL BHOYRUL EDITORIAL MANAGING EDITOR MATTHEW AMLÔT matthew.amlot@itp.com SUB EDITOR EDWARDLIAMZON SENIOR DESIGN MANAGER GERIBATARA SONNY DESIGNER MOHAMMED IRQSOSY ADVERTISING GROUP COMMERICAL DIRECTOR SARASWATI AGARWAL +971 4 444 3352 saraswati.agarwal@itp.com SENIOR COMMERCIAL MANAGER SAMIR GLOR + 971 4 444 3320 samir.glor@itp.com SENIOR COMMERCIAL MANAGERR NEHASIKRI + 971 4 444 33553 neha.sikri@iittp.c.comm PO BOX 500024, DUBAI, UAE +971 4 4 44 3000 OFFICES IN ABU DHABI, DUBAI & LONDON EVENTS & MARKETING DIRECTOR OF AWARDS & MARKETING DANIEL FEWTRELL +971 4 444 3684 daniel.fewtrell@itp.com SENIOR MARKETING & EVENTS MANAGER ANTHONY CHANDRAN +971 4 444 3685 anthony.chandran@itp.com VIDEOGRAPHY MUHAMMAD KALEEM VIDEO EDITOR LIJU CHERUVATHUR PHOTOGRAPHY RAJESH RAGHAV PRODUCTION PRODUCTION MANAGER DENNY KOLLANNOOR PRODUCTION COORDINATOR MANOJ MAHADEVAN SENIOR IMAGE EDITOR EMMALYN ROBLES DISTRIBUTION HEAD OF DISTRIBUTION AND NEWSTRADE ABDULRAHIM ALPARAMBIL DISTRIBUTION COORDINATOR AVINASH PEREIRA CIRCULATION EXECUTIVE RAJESH PILLAI ITP LIVE GENERAL MANAGER AHMAD BASHOUR PUBLISHED BY AND © 2023 ITP MEDIA GROUP FZ-LLC. MEDIA AUGUST 2023 #195 UAE AED 20 KSA SAR 20 BAHRAIN BHD 2 KUWAIT KWD 2 OMAN OMR 2 QATAR QAR 20 Ajay Bhalla, Mastercard’s Cyber & Intelligence President, reveals the secrets to protecting the digital ecosystem DIGITAL INNOVATORTHURSDAY 5 TH OCTOBER 2023 GROSVENOR HOUSE, DUBAI, UAE Introducing the Education Excellence Awards - honouring the teachers, leadership teams and support staff, providing world class education in Dubai. Scan to visit website For further information, please contact: DANIEL FEWTRELL Director of Events & Marketing Tel: +971 4 444 3684 Email: daniel.fewtrell@itp.com Shortlists are now announced, so book your seats today at EdExcellenceAwards.com . Our early bird rate ends on Monday 4 th September.EDITOR’S LETTER 8 CEO MIDDLE EAST OCTOBER 2023 economic downturn and market volatility, reminds us of the importance of diversification in mitigating risks. His insights serve as valuable lessons for leaders in these challenging times. “Differentiation through innovation and unique offerings is crucial. Exploring emerging markets or niche segments can provide growth opportunities. Building a strong brand and reputation for quality and reliability has helped attract customers even in competitive environments,” Ul Mulk said. In a world where the pursuit of success often leads to burnout, we bring you important information on how to safeguard your wellbeing. As the region experiences an economic upswing, it becomes crucial to strike a balance between ambition and self-care. Sustainability remains a pivotal issue, particularly with COP28 on the horizon in the UAE. In this edition, we explore the potential of the blue economy in the fight against climate change. If we were to consider the ocean as a country, it would rank amongst the world’s top economies, with the economic value of the ocean economy estimated at approximately $2.5 trillion per year, or about 3 percent of global GDP in 2022. Today, however, oceans face a multitude of challenges. The detrimental effects of climate change, biodiversity loss, overexploitation, and pollution are causing huge negative impacts, and it is therefore important to protect the oceans’ benefits from the same levels of urgency and priority as we have for protecting the terrestrial parts of the planet. Turn to page 34 for more details. Furthermore, we shed light on how businesses and leaders can unlock new sources of circularity on page 52, reinforcing the notion that sustainability is not just a buzzword but a responsibility we all share. Technology, a driving force of our times, continues to be at the forefront of our discussions. In 2023, artificial intelligence has taken centre stage, and we delve into its far-reaching implications starting on page 42. But, as we embrace the benefits of AI, we must also confront the challenges posed by malicious actors who are increasingly turning to generative AI for nefarious purposes. Turn to page 44 to learn more about this emerging threat. As we conclude this issue, I encourage you to dive into the pages ahead, where you will find a wealth of knowledge, inspiration and practical insights that can shape your journey in the ever-changing world of business. With that I’ll let you get to reading. Share your views on thought leadership and innovation by getting in touch: matthew.amlot@itp.com QUESTIONS? COMMENTS? MATTHEW AMLÔT Editor-in Chief @MatthewAmlot VISIONARY INSIGHTS H ello and welcome to the latest edition of CEO Middle East, where we dive into the insights and stories that reflect the ever-evolving landscape of business in the region. This month, our cover story features Shaji Ul Mulk, the driving force behind Mulk International. His influence extends beyond traditional boundaries, as evidenced by his involvement in the cricketing world with the T10 League, which officially took flight in Sharjah in 2017. We also explore his ground-breaking project, the Zim Cyber City, a $500m project which he described as a “ground-breaking endeavour to transform the real estate landscape in New Harare and Zimbabwe.” Mulk’s wisdom, gleaned from navigating periods of HONOURING GREATNESS Thursday 25 th January 2024 Dubai, United Arab Emirates Nominations are now open SALES ENQUIRIES Saraswati Agarwal Group Commercial Director Tel: +971 4 444 3352 GSM: +971 52 895 2214 E-mail: saraswati.agarwal@itp.com EVENT ENQUIRIES Daniel Fewtrell Director of Awards & Marketing Tel: +971 4 444 3684 GSM: +971 50 276 5706 E-mail: daniel.fewtrell@itp.com Scan to Nominate ACHIEVEMENT AWARDS 2024Next >