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Mon 7 May 2007 03:11 PM

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MAF Group hires Anders Moberg as CEO

Former head of Royal Ahold set to drive MAF Group's MENA expansion plan.

Majid Al Futtaim Group, one of the Middle East's biggest retail companies, has hired Anders Moberg as its new CEO. Moberg, formerly president and CEO of Dutch-based Royal Ahold, the world's fourth largest retailer, will replace Francois de Montaudouin, MAF Group's CEO for the past three years, in July.

Moberg, originally from Sweden, has lived and worked internationally since 1974 and has a distinguished career in retail, having worked with privately owned and publicly listed companies. He most recently served as the president and CEO of Dutch-based Royal Ahold, an international group of supermarkets and foodservice operators based in the US and Europe.

Before joining Ahold, Moberg worked as a division president international at the Home Depot, the world's largest home improvement retailer, based in the US. Prior to this, he was president and CEO of Ikea, the privately owned Swedish-based home furnishing retailer. During this time, he guided the company through an eight-fold growth in sales.

Moberg is likely to tap into his experience of heading international retail companies in his new role at MAF Group, which has ambitious plans to expand into new markets in the MENA region.

Pehr G Gyllenhammar, MAF Group's chairman, said: "Majid Al Futtaim Group is experiencing high growth and seeing promising opportunities for continued rapid development. We are also establishing operations in new markets in the MENA region. Anders Moberg should be very well suited to lead the Group through this next phase."

MAF Group's founder and president, Majid Al Futtaim, added: "We respect François de Montaudouin's decision to leave the company. He has overseen a rapid development of our group both in terms of revenue and profits. Six thousand new jobs have been created, and the group has extended its activities to several new countries in the Middle East - North Africa region. We look forward to welcoming Anders Moberg as the company's new CEO, we have no doubt that he will make an important contribution to the group".

MAF Group was formed in 1992. The company operates malls across the Middle East and also runs Carrefour's hypermarkets in the region.

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