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Tue 2 Jul 2019 12:23 PM

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Emaar Malls CEO steps down after one year

Patrick Bousquet-Chavanne was appointed in July last year

Emaar Malls CEO steps down after one year
Patrick Bousquet-Chavanne

Patrick Bousquet-Chavanne has today stepped down from his role as CEO of shopping and retail business Emaar Malls PJSC, according to a statement on the Dubai Financial Market (DFM).

His responsibilities will be passed onto the company’s chief operating officer Natalie Bogdanova.

Bousquet-Chavanne was appointed in July 2018 to head the group which includes the Dubai Mall, Dubai Marina Mall and Gold and Diamond Park among others.

Prior to joining Emaar Malls, Bousquet-Chavanne worked at Marks & Spencer, where he served as chief marketing and digital officer, helping position MarksAndSpencer.com as one of the UK's foremost clothing and footwear retail websites.

Emaar Malls, majority-owned by Emaar Properties, in April recorded a 7% rise in net profit to AED584 million ($159 million) in the first quarter of 2019.

It reported a 4% growth in revenue for the first three months of 2019 to AED1.075 billion due largely to a strong performance of its shopping mall assets.

At its fourth annual general meeting, it also approved a cash dividend of AED1.301 billion, equivalent to 10 per cent of share capital, for the fourth consecutive year.

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