By Imran Malik
Sharjah | July 3, 2025 — As Dubai restructures one of the UAE’s largest family-owned conglomerates, Majid Al Futtaim Group, Najla Al-Midfa, CEO of the Sharjah Entrepreneurship Center (Sheraa), has hailed the move as a timely example of why succession planning is no longer just a family concern, but a strategic necessity.
“Succession isn’t just a family matter—it’s a strategic imperative,”
said Al-Midfa in a statement responding to the overhaul of the group’s governance structure.
The DIFC-led judicial committee recently restructured the leadership of Majid Al Futtaim Group—the parent company of Carrefour, Hollister, and other retail giants—by converting it into a public joint stock company. The new nine-member board now includes five government-appointed members and four from the founding family, with Fadel Al-Ali, a respected Emirati financial regulator, appointed as chairman.
The shake-up follows long-standing family disputes over control of the retail empire, a challenge not uncommon among large regional businesses lacking clear succession pathways.
Who is Najla Al-Midfa?
Najla Al-Midfa is a prominent voice in the UAE’s entrepreneurial ecosystem. As the CEO of Sheraa, the Sharjah government-backed startup hub founded in 2016, she has helped build an ecosystem that has:
Supported 180+ startups
Enabled $248 million in startup-generated revenues
Upskilled over 18,000 youth across the UAE
She also serves as Vice Chairman of the Emirates Growth Fund, further positioning her as a key player in shaping the region’s entrepreneurial and investment future.
The Bigger Picture: Succession in the GCC
Al-Midfa warned that the lack of structured business succession plans can have ripple effects far beyond boardrooms:
“When continuity breaks, we don’t just lose companies. We lose jobs. Capabilities. Generational value.”
A recent HSBC report confirms that nearly half of UAE entrepreneurs lack a clear succession plan, raising alarms for long-term sustainability of family businesses.
Examples of successful transitions include:
Egypt’s Sawiris family, which split the Orascom business empire among three brothers
Dubai’s Al Ghurair Group, now under the leadership of the founder’s grandsons
Al-Midfa emphasized,
“Succession isn’t about stepping away. It’s about stepping up—for your family.”
As more legacy businesses across the Middle East face generational shifts, experts say strategic succession planning will be crucial not just for families—but for economies, employment, and national resilience.
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