Colm McLoughlin, Vice Chairman and CEO of Dubai Duty Free, recently announced his decision to step down from his role at the company on May 31, 2024. After 55 years of dedicated service and success in the travel retail sector, McLoughlin will transition to an advisory role within the organization. This move comes as McLoughlin played a pivotal role in Dubai Duty Free’s growth into the largest duty-free shop in the world.
Following McLoughlin’s departure, Ramesh Sidambi, the current head of operations at Dubai Duty Free, will take over as the new CEO beginning June 1, 2024. Sidambi will report directly to His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Civil Aviation Authority and Chairman of the Board of Directors of Dubai Duty Free. Additionally, Salah Tahlak, who is currently Joint Chief Operating Officer, will assume the role of Executive Vice President at Dubai Duty Free.
In response to this announcement, McLoughlin expressed his gratitude to Sheikh Ahmed bin Saeed Al Maktoum and the entire Dubai Duty Free team for their support throughout his career. He credited the team’s dedication for the success of the organization and expressed confidence in the leadership of Sidambi and Tahlak as the company moves forward.
Sidambi, who joined Dubai Duty Free in 1987, has held various senior positions within the organization, culminating in his appointment as Chief Operating Officer in 2016. He expressed his appreciation for McLoughlin’s leadership and looks forward to working with the team to expand the company’s retail and leisure divisions.
Tahlak, a member of the Dubai Duty Free team since 1992, has also had a long and successful career at the company. He acknowledged McLoughlin’s mentorship and leadership and wished him well in his retirement. Tahlak expressed his gratitude to Sheikh Ahmed bin Saeed Al Maktoum for the trust placed in him and looks forward to the next chapter of his career.
McLoughlin’s tenure at Dubai Duty Free has been marked by significant growth, with the company’s revenues increasing from US$20 million in 1984 to US$2.16 billion in 2023. Throughout his career, McLoughlin has received numerous awards for his contributions to the industry, including the “Most Distinguished Employee Award” presented by Sheikh Mohammed bin Rashid Al Maktoum in 2000 and the “Irish Presidential Award For Distinguished Service” in 2014. His leadership has been instrumental in Dubai Duty Free’s success and growth over the past four decades.