Shock resignation of Aujan boss

Alex Andarakis, CEO of drinks giant Aujan, is expected to quit today before taking up a post at Emaar.

Aujan Industries chief executive Alex Andarakis will today announce his shock resignation from the drinks giant, less than three years since taking the helm, ArabianBusiness.com can exclusively reveal.

It is understood that Andarakis will later this week be unveiled as Emaar’s new Worldwide Marketing Director.

Andarakis was the first non-family member to run Aujan in over 100 years, and enjoyed spectacular success during his tenure. He implemented the company’s 555 strategy – to achieve US$500 million sales over five years with five brands. Under him, sales have doubled to over US$250 million.

Andarakis is thought to have resigned in person to Aujan chairman Adel Aujan last week, and the company’s 2000 plus staff will be informed of the decision later today.

Aujan officials told ArabianBusiness.com a full statement on Andarakis is future will be released later today.

Arabian Business: why we're going behind a paywall

For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.