Stuart Brazier appointed CEO of Advanced Inhalation Rituals, owner of Al Fakher and OOKA Bassem Lofty succeeds as new CFO
(MENAFN- Instinctif Partners) Stuart Brazier began his new appointment as CEO of Advanced Inhalation Rituals (“AIR”), the global leader in shisha and heat-not-burn products, yesterday. He succeeds Reinhard Mieck, who has been CEO since 2021, who assumes the role of Chairman of the Board of Directors for AIR.
Since 2021 AIR has grown from the global leader in shisha molasses, built around a single brand, Al Fakher, to a consumer-centric, lifestyle company built around a portfolio of leading brands and platforms. In a market which is demonstrating strong growth, AIR has considerably grown its capabilities, extended its brand leadership and international footprint, and successfully launched OOKA, the charcoal free heat-not-burn shisha device which is revolutionizing shisha markets. AIR has transformed into a company with an exciting brand portfolio and an expanding D2C business to complement and supplement its existing go-to-market models.
Stuart Brazier has been with the business as CFO since 2019 and is ideally suited to take on the CEO role. Stuart has been instrumental in shaping and growing the business into the company it is today: the Group supplies over 100 countries with high quality branded shisha molasses and enjoys almost 50% share of the shisha category in the markets in which it operates. With a net turnover of over USD 400mn and an EBITDA of circa. USD 150mn, the Group consistently delivers double digit top line growth per annum and continues to invest significant amounts in developing next generation products for the category.
Previously, Stuart spent 22 years with BAT in various general management and finance roles and finally as Head of Finance for BAT’s Europe and North Africa division, a circa. £6.0 billion net turnover business unit that delivered annual profits of circa £2.3bn to the Group.
Bassem Lotfy will succeed Stuart and is appointed CFO. Bassem joined AIR in July 2020 after a long and successful career at British American Tobacco, where he last held the role of Finance Director, Central Europe North, the second biggest revenue and profit generator for the BAT Group.
The AIR Group operates in a $15-20bn market which is forecast to grow at 7-10% CAGR driven by social and cultural trends. AIR’s brands include global market leader Al Fakher, Shisha Kartel, the fastest growing brand in Europe, the tobacco free Zodiac brand of shisha molasses as well as the category redefining charcoal free OOKA system. AIR is larger than its next 4 competitors combined.
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