‘Shake up the board’: Dubai orders Mall of Emirates owner

dubai: A special judicial committee in Dubai has reportedly ordered the parent company of one of the region’s retail giants to restructure its board, trying to end years of turmoil after the death of its billionaire founder and secure the future of the owner of the Mall of the Emirates.

The changes at Majid Al Futtaim come as Dubai tries to guide the family-run businesses that powered the city-state’s growth in the United Arab Emirates through generational change.

Authorities also likely want to avoid any further infighting that could slow down the growth of a firm that long has made hiring Emiratis a key goal. The Financial Times first reported on the changes to Majid Al Futtaim’s board, saying it came at the orders of a government-established special judicial committee.

In 2022, Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, established a special judicial committee to look after the estate of Majid Al Futtaim’s founder.