Over the course of his lifetime he demonstrated a lifelong commitment to promoting economic development in Saudi Arabia. As an early innovator, he established a joint venture with Procter & Gamble to build manufacturing facilities in the Kingdom, and throughout his career vigorously championed the growth of diversified commerce in Saudi Arabia.
Sheikh Ismail has been recognized repeatedly by the Saudi business community for his leadership, fairness and dedication. He served as President of the Saudi Council of Chambers of Commerce, held the position of President of the Arab Chamber of Commerce, was honored as lifetime President of the Islamic Chamber of Commerce and served for over 30 years as the President of the Jeddah Chamber of Commerce, retaining the title of Honorary Chairman until his death.
His presence is still strongly felt at Abudawood and his life remains a role model for his family and the other management of our company.
Together, they share a common vision and remain dedicated to building a strong future for the company.
As sons of the founder, these gentlemen were born and raised in Saudi Arabia with the family business an integral and familiar part of their lives from the very beginning – including stints of adolescent employment in the business at entry levels so as to learn the business from the ground up.
Upon completing their secondary education in the USA, they all returned to participate in managing the company in a wide variety of roles. Once proving their knowledge and capabilities and earning leadership roles, they enabled their father to retire to a guiding role. Under their leadership, the company has expanded its success in manufacturing and services and its investments in real estate and financial instruments.
Their intimate understanding of the company and marketplace, practical experience in the business and their consistent vision for the future enables them to act wisely as strategic counsel to a professional team of executives who now manage the day to day affairs of the company.Upon completing their secondary education in the USA, they all returned to participate in managing the company in a wide variety of roles. Once proving their knowledge and capabilities and earning leadership roles, they enabled their father to retire to a guiding role. Under their leadership, the company has expanded its success in manufacturing and services and its investments in real estate and financial instruments.
Our executives bring exceptional education and expertise from well-rounded experiences in our local markets as well as in global ones.
He is responsible for managing all the investment and finance activity of the Abudawood Group.
Mr. Lolas is accountable for the performance of shareholder funds and all other sources of finance, including the performance of business units which he delegates through general managers. He translates organizational vision into operational targets through the deployment of finance with the objective of developing a knowledge based business. He also directs, administers, and coordinates the activities of Abudawood Group by establishing appropriate processes, policies, goals, and objectives.
Since joining Abudawood Group as an Investment Analyst in 1994 he has enjoyed a progressive career in a variety of finance and investment roles, both within the Group’s investment platform as well as its operating companies, becoming Group CFO in 2007.
During his career, Mr. Lolas has led and substantially influenced Abudawood Group processes and decisions for numerous investment opportunities, which include global and regional real estate, global equities, private equity funds and direct investments. For perspective, this has included a diverse, global portfolio of more than 60 private equity funds and direct investments; several regional multimillion dollar acquisitions; and more than 25 multimillion dollar residential and commercial real estate projects.
Mr. Lolas currently holds seats on the Board of Directors of the Group’s operating companies in Bahrain and Yemen as well as Investment Asset Management Company in Bahrain. In addition, he represents Qatar First Islamic Bank as a Board Member of a billion-dollar manufacturing company in United Arab Emirates (U.A.E.)
Mr. Lolas holds a double major in Economics and Statistics from the University of Jordan (UoJ) and enjoys continuous personal growth by attending many residential post graduates courses (IMD, Euro Money, Huron University, Urban Land Institute), as well as corporate training courses (Proctor & Gamble, Citibank).
Mr. Lolas is married with three children and lives in Jeddah, Saudi Arabia.