Hosam Arab, the co-founder and CEO of Dubai-based fashion ecommerce platform Namshi has stepped down from his role less than two weeks after it was fully acquired by Mohamed Alabbar's Emaar Malls. He announced the decision in an email sent to his team last week. A screenshot of the email was shared by Omar Kassim, founder of Esanjo and JadoPado, on Twitter, earlier this morning.
“Last week, we announced the complete sale of Namshi to Emaar Malls, our partner and maiority shareholder over the past year and a half, and with it, I also announced my intention to say good bye and step down as cm of Namshi,” he said in the email.
Hosam did not share any specifics about why he is leaving in the email but wrote that “there really is never going to be a good time to leave such an incredible place. For me personally, this juncture felt like the most appropriate and natural.”
“The partnership with Emaar Will undoubtedly bring great value to the business in terms of new avenues for growth and personal development for you,” he added.