FIVE Holdings Augments Leadership to Support
Ongoing Growth and
Multi-Border
Developments
July 8, 2024, Dubai, UAE - FIVE
Holdings (BVI) Limited ("FIVE
Holdings" and together with its subsidiaries, the
"Group") is pleased to
announce the strategic realignment of its key leadership positions
to support the Group's continued growth.
Effective October 1, 2024, Jaydeep
Anand will step down from his current role as Chief Financial
Officer (CFO) of the Group to assume a new position as Chief
Development Officer, while continuing to serve as Chief
Sustainability Officer. He will hold this position alongside Nabil
Akiki, who will also continue as Chief Development Officer.
Together, they will oversee multiple simultaneous projects in
various locations, collaborating closely and sharing
responsibilities to achieve the timely completion of the
projects.
With multi-border development
projects underway - the renovation of Destino Pacha Ibiza into FIVE
Ibiza, the development of Pacha branded residential apartments in
Ibiza, and the completion of The Island and SENSORIA residences at
FIVE LUXE, Dubai - this strategic shift will allow Jaydeep Anand
and Nabil Akiki to concentrate on the development aspects of the
business and efficiently manage these projects, leveraging their
extensive experience to drive key initiatives and expansion efforts
in this segment.
To fill the pivotal role of CFO,
FIVE Holdings is pleased to announce that Kallol Kundu will join as the new CFO
of the Group starting October 1, 2024. Kallol Kundu has previously
worked with The Oberoi Group as Group Chief Financial Officer,
Chief Risk Officer and ESG-custodian (since 2001) and before that,
with the Kalpataru Group (2017 - 2018) as President - Group
Assurance, Risk and Audit.
Alongside his decades-long career,
Kallol Kundu has extensive experience in digitalization and
technology transformation. His recent accomplishments in technology
transformation include spearheading the development of an
award-winning Centre of Excellence, utilizing advanced technologies
like AI/ML and Robotics, and designing a comprehensive
blockchain-based framework for various applications in the
hospitality sector. Additionally, Kallol Kundu has successfully led
numerous digital initiatives in his previous roles, such as
championing the development of a full-scale online automated audit
infrastructure, incorporating remote data access and data
analytics. These blends of skills demonstrate his ability to
integrate technology with business strategies
effectively.
As FIVE Holdings continues to
prioritize digitalization as the way forward, Kallol Kundu's
extensive experience in this area will be crucial in transforming
many business functions. In today's fast-paced environment, digitalization
is central to the Group's growth strategy, as it allows the Group to streamline operations, enhance
customer experiences, leverage data for
better decision-making, and respond swiftly
to market demands. Kallol Kundu's track
record in digitalization and financial leadership makes him an
ideal addition to the team. His ability to blend financial acumen
with technological insight will support the Group's goals, driving
both innovation and sustainable growth. With Kallol Kundu on board,
his expertise will be invaluable as FIVE Holdings continues to grow
its operations and explore new opportunities.
Apart from these strategic
transitions, no further changes are currently planned to the
existing leadership structure. As before, Kabir Mulchandani will
continue in his role as the Founder and Executive Chairman, while
Aloki Batra will remain the Chief Executive Officer -
Hospitality, maintaining his focus
on the growth synergies and evolution of
the FIVE and Pacha
businesses.
Commenting on the realignment of
leadership positions, Kabir Mulchandani, Founder and Executive
Chairman, of FIVE Holdings, stated, "These leadership changes are a testament to
our commitment to growth and development. With Jaydeep's and
Nabil's expertise in development, Kallol's financial acumen, and
Aloki's vision and hospitality experience, we are well-positioned
to capitalize on new opportunities and propel our business forward.
I look forward to working closely with these leaders to achieve our
goals."
For investor related inquiries,
please contact investor.relations@fiveglobalholdings.com
For media inquiries, please contact
Farah Palia at farah.palia@fiveglobalholdings.com.
- ENDS -
ABOUT FIVE HOLDINGS
FIVE Holdings is a vertically
integrated group, and its current portfolio includes 3 luxury
hotels in the UAE, FIVE Palm Jumeirah, FIVE Jumeirah Village and
FIVE LUXE, a hotel in Switzerland, FIVE Zurich, 2 hotels in Spain,
Destino Pacha and El Hotel Pacha, a nightclub in Spain, Pacha
Ibiza, 2 eponymous Fashion Lines, FIVE Mode and The Pacha
Collection in the UAE and Spain; as well as a range of assets that
include Toy Room and WooMoon Storytellers (Globally).
FIVE has received an "A" grade ESG
rating from ISS Corporate Solutions, which became the highest ESG
rating provided by ISS across all sectors. This highlights FIVE's
focus on a 'Global Sustainable Entertainment Ecosystem', which is
the integration of immersive entertainment with homegrown F&B
concepts that results in a distinctive guest experience for an
international and affluent audience of luxury-loving, eco-conscious
Millennial and Gen-Z customers.