"Impossible to plan beyond 6 months in the Arab world!"
Fadi Ghandour, founder and CEO of logistics giants Aramex, revealed it was impossible to plan beyond six months in the Arab world.
Ghandour was speaking at the Arabian Business Forum at the Armani Hotel in Dubai.
Aramex was founded in 1982 and is now worth US$700m on the Dubai Financial Market. The firm has 12,300 staff in 353 different locations across 60 countries. It still is the only Arab-based company to ever list on the NASDAQ stock exchange and is often cited as one of the Arab world's great success stories.
Ghandour claimed that he has never been involved in a project which has had a window of a year or more and it is tough to predict what will happen in the region. “It is quite ridiculous in the Arab world to plan beyond six months,” he said.
He went on to reveal that Aramex’s growth was an organic step-by-step process. “We don't do anything that our competitors do not offer, but we have a unique corporate culture that maybe our competitors don't have,” he said.
“It’s about entrepreneurial spirit - and that is well-defined from the moment you arrive at Aramex.”
Earlier this year, Ghandour announced that, by the end of 2012, he would be retiring as CEO, handing over day-to-day operations to Hussein Hachem, his chief lieutenant and the current head of the Middle East and Africa regions.
The move will help Ghandour, who has taken over as vice chairman of Aramex’s board of directors, focus on strategic expansions, new investments, and sustainability; areas he considers crucial to the firm’s growth and profile as it moves to consolidate its position as a leading logistics operator.