Colm McLoughlin, the executive vice chairman and CEO of Dubai Duty Free, announced his retirement after 55 years in the travel retail industry and 41 years of leadership at Dubai Duty Free. His retirement is set for May 31, 2024. Ramesh Cidambi, the current COO of Dubai Duty Free, will take over as Managing Director, reporting directly to Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Dubai Duty Free. Salah Tahlak, the Joint COO, will become Deputy Managing Director.
McLoughlin, who has been instrumental in Dubai Duty Free’s growth to become the world’s largest duty-free operation, will continue to provide advisory support. He will also remain Chairman of the Dubai Duty Free Foundation and attend sponsored sporting events. In a statement, McLoughlin expressed gratitude to the management and staff for their support and praised Sheikh Ahmed bin Saeed Al Maktoum for his leadership. He expressed confidence in the future of Dubai Duty Free under the new leadership.
McLoughlin was part of the original consultancy team from Aer Rianta that helped launch Dubai Duty Free in 1983. He later became the General Manager and eventually the Managing Director in 2011. Over the years, he has overseen the growth of Dubai Duty Free and its subsidiary businesses, leading the company to significant success with business rising from $20 million in 1984 to $2.16 billion in 2023. Dubai Duty Free has received numerous awards under his leadership.
Ramesh Cidambi, who joined Dubai Duty Free in 1987, has worked across various divisions within the company before assuming the role of COO in 2016. He expressed gratitude to Sheikh Ahmed bin Saeed Al Maktoum and Colm McLoughlin for his appointment as Managing Director. Salah Tahlak, one of the first Emiratis to join Dubai Duty Free in 1992, has had a rewarding career with the company. He thanked Sheikh Ahmed bin Saeed Al Maktoum and McLoughlin for the new opportunity and praised McLoughlin as a mentor and role model.
Both Cidambi and Tahlak acknowledged the significant impact of McLoughlin on their careers and the company as a whole. The succession plan at Dubai Duty Free ensures a smooth transition of leadership and reflects the company’s commitment to continued success. The legacy of Colm McLoughlin will undoubtedly be celebrated within the industry and the Dubai Duty Free family. The team looks forward to building on his achievements and steering the company towards a bright future.
