UAE food group Agthia has named a new chief executive officer.
Alan Smith takes over Acting CEO Jamal Salem Al Dhaheri, the company said in a bourse filing on Monday (Jul 6).
Smith was previously Mondelez International's Managing Director for Middle East and Pakistan, a position he took on in 2015. He was with the company behind Cadbury, Oreo, Ritz and Tuc for more than 19 years.
In a statement, Agthia said Smith's appointment comes at a time when the compnay is "focused on its commitment to expansion and growth as a leading F&B company".
The Abu Dhabi-based F&B group saw its first-quarter profit drop by 33% to 26.64 million dirhams ($7.25 million) compared to the same three months in 2019. The drop came as revenues rose by 12.47% but cost of sales surged by 15%.
In 2019, profit plunged by 34.9% to 137.03 million dirhams.
Agthia's consumer business contributed 52% to total revenue and 48% came from its agri-business segment. Its brands include Al Ain, Al Bayan, and Grand Mills.
The group competes in consumer business selling water, beverages, dairy, tomato paste, frozen vegetables, bakery and trading items, as well as in agri-business that covers flour and animal feed.
Agthia is 51% owned by the government of Abu Dhabi’s industrial investment holding company Senaat. Outside the UAE, it has subsidiary operations in Egypt, Turkey, Oman, Saudi Arabia and Kuwait.
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