Sheu rebuffs departure talk
Frank Sheu to stay in CEO post at Almasa
Almasa boss Frank Sheu has dismissed reports in the channel that he is to leave the company.
Sources close to the broadline distributor claim Sheu is to relinquish his CEO duties, possibly even transitioning to more of a consulting role. It is thought that founder Mehdi Amjad could take a more hands-on approach as Almasa, like other IT distributors, looks to make it through the current challenging climate unscathed.
Amjad, also executive chairman and president of Omniyat, hired ex-Synnex Australia chief Sheu three years ago with a directive to take the US$400m distributor’s business to the next level.
Sheu insists talk of his exit is nothing more than gossip and says that although he plans to leave the country for vacation this month he will return to work in his current CEO capacity during the first week of January.
He also claims that any additional involvement from Amjad in the direction of the distribution business is only natural at a time when everybody in the channel is concerned about trading conditions.
“I am sure we need the owner involved to make a lot of decisions during this difficult time in the global financial situation,” explained Sheu. “Designation or title doesn’t mean anything in the crisis situation — how to get business moving forward smoothly is more important than anything. But no, I am not leaving the company.”
Almasa has recently tweaked its management set-up in a bid to improve efficiency. Last month it confirmed plans to sacrifice the country manager position in markets where it has local operations, such as Kuwait and Saudi Arabia. Instead, category managers in those territories report directly to one of four business unit heads based at its main office in Dubai.