With family businesses forming the backbone of the GCC economy, the importance of aligning family values with professional governance structures was highlighted by Nisha Jagtiani, Group Director and Board Member of the Landmark Group.
Jagtiani was speaking at a new fire-side series, titled ‘From Vision to Practice: Governance Talks with Family Business Pioneers’ organised by Pearl Initiative, a leading non-profit organisation dedicated to advancing corporate governance in the Gulf region.
She reflected on the governance journey of one of the Middle East’s most prominent family-owned enterprises, offering actionable insights for family firms navigating the complexities of growth and continuity.
“Governance isn’t just about rules; it’s about creating a shared vision that sustains the business and the family legacy,” she said.
Family businesses contribute approximately 60% of GDP and employing over 80% of the workforce. With 90% of the private sector in the UAE and Saudi Arabia comprising family-owned businesses, robust governance frameworks are vital to sustaining their economic impact.
Jagtiani shared how the Landmark Group has institutionalised governance to ensure resilience across its 2,500 stores in the Middle East, North Africa, India, and Southeast Asia.
She highlighted how the Landmark Group, a retail powerhouse in the $808.51 billion MENA retail market, has implemented clear board structures, transparent decision-making processes, and ethical standards to balance growth with long-term stability. Key outcomes included practical strategies for managing family dynamics, such as establishing independent boards and succession planning, which have helped Landmark Group navigate challenges whilst maintaining its competitive edge.
The discussion also underscored the role of governance in fostering innovation and adaptability. Jagtiani explained how the Landmark Group’s commitment to robust governance practices has strengthened stakeholder trust, enabling the company to thrive in the retail sector. She cited the group’s omnichannel strategy as a testament to how governance supports agility, allowing the business to meet evolving consumer demands in a digitally driven market.
Ralph Choueiri, Executive Director of the Pearl Initiative, stated: “This series was created to bring real, lived experience to the forefront. There’s enormous value in hearing directly from leaders who have faced governance challenges head-on and emerged stronger. Nisha’s openness and insight were a powerful reminder that governance isn’t just about control, but it’s about enabling growth with purpose.”
Hosted as part of Pearl Initiative’s Governance in Family Firms Programme, the webinar reinforced the organisation’s mission to empower family businesses with best practices in corporate governance.
The session attracted a diverse audience of family business leaders, and industry experts, sparking a lively exchange on the opportunities and challenges of governance in family firms. -TradeArabia News Service
