Dubai Refreshment Co. Announces CEO Transition

In a significant leadership transition, Dubai Refreshment P.J.S.C. has announced the retirement of its long-serving CEO, Mr. Tarek Elsakka, after an impressive tenure of over 17 years. The announcement came following a Board of Directors meeting held on December 11, 2024. Mr. Elsakka's departure marks the end of an era for the company, which has seen substantial growth and expansion under his guidance.

Mr. Mahmoud El-Meligy, the current Operations Director, has been appointed as the new CEO, effective January 1, 2025. Mr. El-Meligy brings a wealth of experience and a deep understanding of the company's operations, having been a key figure in the company's strategic initiatives and operational advancements.

This transition comes at a pivotal time for Dubai Refreshment, a company renowned for bottling and selling Pepsi Cola International products across Dubai, Sharjah, and the Northern Emirates. The company also holds the rights for 7Up and Aquafina throughout the UAE, making it a significant player in the region's beverage industry.

Under Mr. Elsakka's leadership, the company has not only solidified its domestic market presence but also ventured into international markets, exporting products with authorization from Pepsi Cola International. His retirement presents both challenges and opportunities for the new leadership to navigate.

Investors and stakeholders may view this transition with a mix of anticipation and caution. While Mr. El-Meligy's familiarity with the company's operations provides continuity, the leadership change could also bring fresh perspectives and new strategies to the table.

Given the stability and consistent performance of Dubai Refreshment P.J.S.C., coupled with the strategic appointment of an internally experienced successor, the recommendation for investors would be to hold their positions. The company's strong market presence and established brand partnerships offer a solid foundation for future growth under the new leadership.