Tarek Aggad

Tarek Omar Abdul Fattah Aggad (born 1971) (Arabic: طارق عمر عبد الفتاح عقاد‎) is a Saudi businessman. He is the executive director of the Aggad Investment Company (AICO) - a Saudi diversified holding firm.[2] Aggad sits on the board of directors of several manufacturing, distribution and services companies in Palestine, Jordan and Saudi Arabia. In 1994, the Arab Palestinian Investment Company (APIC) was founded by his father Omar Aggad. It is an investment company with nine subsidiaries in the fields of manufacturing, distribution of consumer goods, pharmaceuticals, cars, retail and construction materials and Tarek Aggad is the chairman, CEO,[3] and owner of 20.5% of the company.[4]

Tarek Aggad
Tarek Omar Aggad
Born
Tarek Omar Abdul Fattah Aggad

January 1971 (age 50)
Lebanon
Alma materHarvard University
OccupationChairman, CEO and 20.5% owner, Arab Palestinian Investment Company
Spouse(s)Shirine Aggad
Parent(s)Omar Aggad
A photo of the late Sheikh Omar Aggad with Mr. Tarek Omar Aggad, chairman and CEO of APIC, during their visit to Palestine in 1994 to establish APIC.[1]

Since its founding, APIC has become one of the largest operators in Palestine, employing around 2000 employees. Subsidiaries of APIC offer a wide array of products and services through distribution rights agreements with multinational companies that include Philip Morris, Procter & Gamble, Kellogg's, Hyundai, Chrysler, Dodge, Jeep, Alfa Romeo, Fiat, Fiat Professional, XL Energy, Abbott, B. Braun, Eli Lilly, GlaxoSmithKline, Sanofi Aventis and Nivea, among many others.[3]

APIC has had an effective social role in the communities within which it operates. APIC’s social responsibility vision lies in forming strategic partnerships with institutions that play an active role in society in the education and health sectors, entrepreneurial projects and youth, as well as its support for social, charitable, humanitarian and cultural institutions. A total of USD 4.2 million was invested in CSR between 2017-2019, representing an average annual of 7.5% of total net profits of APIC group. [5]

Early life

Aggad was born in Lebanon in 1971, the son of Omar Aggad, and grew up in Riyadh, Saudi Arabia where he attended local schools. He holds a bachelor's degree in Economics from Harvard University, US.[6]

Awards and Merits

In 2019 Tarek Aggad was decorated with the “Star of Merit” of the “Order of Palestine” by President Mahmoud Abbas of Palestine[7] in recognition of his distinguished national efforts, particularly in promoting the Palestinian economy and as an appreciation for his generous contributions in serving his people and Country. [8]

Career

Aggad serves as a director on a number of boards including Aggad Investment Company, Palestine Power Generation Company, Palestine Electric Company, Bank of Palestine, King Hussein Cancer Foundation, King’s Academy as well as other companies in Palestine, Jordan, and Saudi Arabia.[2]

In 2001, Aggad was named a Global Leader of Tomorrow (GLT) at the World Economic Forum in Davos.

Personal life

He is married to Shirine Aggad, and they have four children.[9]

References
  1. "APIC ANNUAL REPORT 2017" (PDF).
  2. "Aico.com". Aico.com.sa. Retrieved 2016-04-11.
  3. "APIC Home Page". APIC. Retrieved 4 May 2016.
  4. Fox, Marisa (2016-04-07). "Panama Papers: Leaks reveal Abbas' son's $1m holding in company with ties to Palestinian Authority - Middle East News". Haaretz. Retrieved 2017-01-17.
  5. "Corporate Social Responsibility…Efficient Role and Lasting Commitment". www.apic.ps. Retrieved 2020-09-19.
  6. "Tarek O. Aggad, Chairman and Chief Executive Officer (APIC), Executive Director, Aggad Investment Company, Saudi Arabia". APIC. Retrieved 4 May 2016.
  7. "Corporate Social Responsibility…Efficient Role and Lasting Commitment". www.apic.ps. Retrieved 2020-09-19.
  8. "الرئيس يقلد طارق العقاد 'نجمة الاستحقاق' من وسام دولة فلسطين". BNEWS. Retrieved 2020-09-19.
  9. "APIC establishes scholarship fund for Palestinian students at King's | King's Academy". Kingsacademy.edu.jo. 2014-01-20. Retrieved 2016-04-11.
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