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Anan Fakhreddin appointed CEO of Damas

Anan Fakhreddin appointed CEO of Damas

Former World Gold Council and De Beers executive provides insight and expertise to Damas during period of renewal and transition

May 26, 2010 10:24 by

Dubai, May 23, 2010: Damas International Limited (Damas), the leading retail jewellery company in the Middle East, announced today the appointment of Anan Fakhreddin as Chief Executive Officer of the company. He is also a member of the Board of Directors of Damas International Limited.

Most recently, Mr. Fakhreddin served as the Dubai-based Managing Director for the Middle East and Turkey at the World Gold Council. Previously, he worked with the Diamond Trading Company (a De Beers Group company) for nine years, covering the GCC region.

He started his professional career with American Express International and held the position of Regional Manager in Saudi Arabia. He holds a BA in Business Administration from Yarmouk University in Jordan.

Mr. Fakhreddin replaces Sanjay Kalsi, who held the position of Interim Acting Chief Executive Officer of the company. Mr. Kalsi will resume his previous responsibilities as Chief Financial Officer of Damas.

“I am delighted to have taken on this role at one of the oldest and most significant retail companies in the region at a time of renewal and transition,” said Mr. Fakhreddin. “Damas has a rich heritage of excellence across all its business lines, and this is the legacy we will look to build upon.

“I look forward to joining a team of highly specialized and motivated professionals to further enhance our product line and customer service channels, while identifying expansion opportunities in growth markets,” he said. “I am confident that with the support and insight of my colleagues, we will continue to develop Damas as a global leader in the retail jewellery trade.”

About Damas International Limited:

The journey of Damas began in 1907. It has grown from a UAE-based company into a global fashion and jewellery network spanning the Middle East, South Asia, Europe and North Africa. The Damas Group has over 500 stores in 18 countries around the world as of 30th April 2009. Damas houses internationally acclaimed jewellery and watch brands such as Tiffany & Co., Mikimoto, Daniel K, Faberge, Carrera y Carrera, Paspaley, Pasquale Bruni, Roberto Coin, Fope, Chronoswiss, Parmigiani, Perrelet, Quinting, Montega, Frederique Constant, Chanel, Roger Dubuis, Vacheron Constantin, Girard-Peregaux, Jaquet Droz, Chaumet, Sarcar, Hysek among many others. The innovative in-house collections include the majestic Bridal jewellery, exclusive jewellery brands such as Damas Cut, Boudoor, Hayati, Riwaya, Jawaher, Farasha, Fairouz, Harmony, Farfasha, Al Manthourah; watch brands Varotti and Aquamarin; and a wide range of other classic and contemporary jewellery and watch collections. Quality consciousness, inspirational leadership and international reputation have led Damas to win prestigious awards including the exclusive De Beers Award 2000, 2004 and 2007 for jewellery design. Damas International Limited is listed on NASDAQ Dubai and its shares are traded under the ticker “DAMAS.”

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