DUBAI: Dubai’s Majid Al-Futtaim, the Middle East operator of French retailer Carrefour, is hiring 200 people as it rolls out an ambitious strategy to expand its digital and e-commerce operations, its chief executive said.
Majid Al-Futtaim, which in June acquired the franchise owner of Geant supermarkets in the Gulf, is bringing data scientists and engineers from Silicon Valley to make best use of its data, CEO Alain Bejjani said in a telephone interview.
Dubai’s retail sector has been slow to embrace data science compared with regional counterparts, but the recent acquisition of Dubai online retailer Souq.com by Amazon.com Inc. may push businesses to think about how to expand online.
“Technology is the currency of the future,” Bejjani said. “People need to understand why data is important and basically how can data help us ... do better business.”
The strategy is already bearing fruit for Majid Al-Futtaim, which has 7.5 million uniquely identified customers in the UAE alone.
In its Carrefour stores for instance the company crunched data related to its biscuit assortments. “We discovered a number of counter-intuitive insights, that when we implemented them they had a very big impact on productivity,” he said.
“We even discovered that there was one specific biscuit brand that actually had a big impact of people walking out of the store if they don’t find (that brand).
“The biscuit brand wasn’t highly promoted by the FMCG (fast-moving consumer goods) companies or the suppliers, and typically our people wouldn’t buy it, so they wouldn’t have it on the shelves as much as they should.”
Majid Al-Futtaim, which holds exclusive rights to the Carrefour franchise in 38 markets in the Middle East, Africa and Asia, according to its website, plans to take Carrefour in the United Arab Emirates online by mid 2018, and across its other territories in the next 24 months, he said.
UAE retailer Majid Al-Futtaim seeks data scientists to capture growth
UAE retailer Majid Al-Futtaim seeks data scientists to capture growth
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Egypt-born Dina Powell McCormick appointed Meta president and vice chairman
- The former Goldman Sachs partner and White House official previously served on Meta’s board of directors
- Powell McCormick, who was born in Cairo and moved to the US as a child, joins the management team and will help guide overall strategy and execution
LONDON: Meta has appointed Egypt-born Dina Powell McCormick as its new president and vice chairman.
The company said on Monday that the former Goldman Sachs partner and White House official, who previously served on Meta’s board of directors, is stepping up into a senior leadership role as the company accelerates its push into artificial intelligence and global infrastructure.
Powell McCormick, who was born in Cairo and moved to the US as a young girl, will join the management team and help guide its overall strategy and execution. She will work closely with Meta’s Compute and infrastructure teams, the company said, overseeing multi-billion-dollar investments in data centers, energy systems and global connectivity, while building new strategic capital partnerships.
“Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her uniquely suited to help Meta manage this next phase of growth as the company’s president and vice chairman,” Meta founder and CEO Mark Zuckerberg said.
Powell McCormick has more than 25 years of experience in finance, national security and economic development. She spent 16 years as a partner at Goldman Sachs in senior leadership roles, and served two US presidents, including stints as deputy national security adviser to Donald Trump, and a senior State Department official under George W. Bush.
Most recently, she was vice chair and president of global client services at merchant bank BDT & MSD Partners.
