Aramex announces CFO Transition

Published: Wednesday, November 8, 2017

Aramex recently announced that Bashar Obeid, Chief Financial Officer (CFO), has informed the Board of Directors of his plans to exercise his early retirement option by stepping down in order to pursue other endeavors. Mr. Obeid will continue to serve as the company’s CFO until 28th of February 2018 to facilitate a smooth transition of his responsibilities. Aramex has named Nadia Abusarah, currently serving as the Company’s Executive Corporate Controller, as Interim Chief Financial Officer (CFO), replacing Mr. Obeid.

Bashar joined the accounting and finance team at Aramex in 1993, and since then, he has grown into several leadership positions including the company’s Financial Controller, Group Financial Controller, and finally his current position as the Chief Financial Officer. He was a member of the team that oversaw Aramex’s public offering on the NASDAQ stock exchange and later on the Dubai Financial Market (DFM).

Hussein Hachem, CEO of Aramex said “Throughout his 24 years with Aramex, Bashar helped guide the company to where we are today and worked very hard to grow the business, increase profitability and ensure financial stability. We highly appreciate the years of service Bashar dedicated to Aramex. He leaves a legacy of financial stewardship and discipline that will contribute to our future success for years to come.”

“Nadia is well qualified to serve as interim CFO, and we are confident of the key role she will play in the strategic transformation we’re executing here at Aramex. We remain focused and committed to moving forward with our plans and delivering exceptional results for the remainder of 2017 and beyond,” concluded Hachem.