The Jeddah-based Dallah Albaraka Group has divided its worldwide operations into three sectors for finance, media and other businesses, in a reorganisation that will devolve some powers downwards from senior management. The changes took place earlier this year and some details have been reported in the Arabic press (MEED 3:5:96).
Group chairman Saleh Abdullah Kamel told MEED that the three new sectors will incorporate Dallah Albaraka’s existing holding companies. ‘The ultimate goal of the new structure is to give the Group companies a free hand in setting up their own plans and taking all required measures for their execution under direct supervision of their respective chief executive officers.’ ‘The new system shall also facilitate the practice of central control on the work and ease the administrative burden on higher management,’ Kamel says. ‘The results of the changes shall he positively reflected on the general performance of the Group companies and keeping up a high rate of returns.’ Dallah Albaraka’s interests range from banking to broadcasting and farming, and it controls more than 300 companies. In 1994, its assets were put at $6,000 million.
Asked if the new structures meant a devolution of managerial responsibilies, he said:
‘This is true with respect to higher management where the powers of supervision have been delegated to the lower levels of management, i.e. to the chief executive officers of the three main sectors.’
Kamel himself will head the media division, while retaining a supervisory role over the rest of the Group’s operations. His son Abdullah Kamel will head the business division while Saleh al-Malaika, former head of two of the Group’s investment companies, will be in charge of finance. A new post of first vice-president has been created. The incumbent ‘is fully authorised to act on behalf of the president in his absence as well as his presence.’
The post is held by Mahmoud Jamil Hassouba.