Dubai Duty Free CEO Colm McLoughlin steps down after 41 years
Ramesh Cidambi to assume leadership role effective June 1st, 2024
Dubai: After an illustrious 41-year career at the helm of Dubai Duty-Free, Colm McLoughlin, the Executive Vice Chairman & CEO, has announced his retirement, effective May 31st, 2024. His departure marks the end of an era for one of the world's largest duty-free retailers, which he played an instrumental role in shaping into its current status as a global leader.
Successors
McLoughlin's successor, Ramesh Cidambi, currently serving as the Chief Operating Officer (COO) of Dubai Duty-Free, will step into the role of Managing Director, reporting directly to H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Dubai Duty-Free. Cidambi, with his extensive experience spanning over three decades within the company, is poised to continue the legacy of excellence established by McLoughlin.
Ramesh Cidambi thanked McLoughlin for his mentorship and leadership, underscoring his commitment to driving the business forward.
Salah Tahlak will assume the office of COO, replacing Cidambi. He expressed gratitude for the opportunities afforded to him during his tenure. He praised McLoughlin as a mentor and expressed confidence in the future trajectory of the company.
Gratitude and confidence in future leadership
In his statement, McLoughlin expressed gratitude to the management and staff for their unwavering support throughout his tenure. He also acknowledged the pivotal role played by H.H. Sheikh Ahmed bin Saeed Al Maktoum, emphasizing the seamless transition expected under his leadership.
Reflecting on his retirement, McLoughlin expressed confidence in the future of Dubai Duty-Free under the stewardship of Cidambi and Salah Tahlak, who will assume the position of Deputy Managing Director. Both Cidambi and Tahlak bring extensive experience and a deep understanding of the company's operations, having served in various senior roles over the years.
End of an Era
McLoughlin's contributions to Dubai Duty-Free are undeniable, having overseen its remarkable growth from a modest beginning in 1983 to a multi-billion-dollar enterprise. Under his leadership, the company's revenue soared from US$20 million in 1984 to an impressive US$2.16 billion in 2023. His achievements have been recognized with numerous awards, including prestigious honors from both local and international institutions.
As McLoughlin prepares to pass the baton to the next generation of leadership, his legacy of excellence and dedication to Dubai Duty-Free will undoubtedly endure, serving as a testament to his enduring impact on the travel retail industry.