As the founder and chairman of Petrochem, one of the largest chemical distribution companies in the Middle East, I have spent three decades building this business from the ground up. It has been an incredible journey from those early struggling days when I first arrived in Dubai with nothing but dreams and a burning ambition to succeed at all costs, to now leading a multi-billion dollar business with operations all over the world.
However, all successful businesses must plan for succession and the next phase of leadership. That is why I have been focused on grooming my son Rohan (35) to one day soon take over the reins of Petrochem.
Preparing the next generation for leadership is crucial for the continued success and growth of any family enterprise. However, it is not something that can be taken lightly or rushed. As a father, I want the best for my son but I also have a responsibility to the many senior directors and employees to ensure a smooth transition.
Vision to assemble a diverse high-flying team
Rohan joined Petrochem nearly ten years ago after completing his education in the US and then two years at a chemical refinery in Dallas Texas, his first few years were spent getting up to speed on our vast operations and deeply understanding all aspects of the business from products to customers to logistics.
In 2023 Rohan became a Harvard Business School Alumni which was a moment of pride for all of us. It was important that he learn from the ground up rather than being thrust into an executive role prematurely.
His senior directors at the company work alongside him as a team and love Rohan’s style of working which is very honest and forthcoming and quite different from ours.
Rohan wants to build his own team of young techno commercial engineers and bring on board both a gender balance and senior experienced people whom he can rely on to take Petrochem to the next level.
In his time with the company so far, I have been impressed with how Rohan has taken on more responsibilities and proven himself as a capable leader. However, this is just the beginning of the journey. There are still many lessons to learn, challenges to face, and skills to build as he becomes fully prepared to take over the mantle.
Trust and respect key in family business handover
A successful family business transition relies on open communication, mutual trust, and respect between generations. I make it a point to have regular discussions with Rohan, providing advice and counsel while also hearing his fresh perspective. Our relationship hopefully is one of partnership, not dictatorship! ha ha!.
Leveraging different generations’ strengths is key. Younger leaders bring new ideas, technology skills and have grown up in a rapidly changing world. But they can also benefit from the wisdom and experience of their predecessors. I encourage Rohan to be ambitious but also cautious. To take calculated risks and learn from failures.
Building an empire is hard work that requires resilience through ups and downs. A supportive family environment helps develop character. As his parent I want him to become his own man ready to face any situation, whether it is economic turbulence, geopolitical issues, or competitive pressures. I see that Rohan is coping very well every dynamic situation around him.
Every leader must also be attuned to changing times. While core values remain, strategies and business models need regular review. Under Rohan’s guidance, we are exploring new growth areas beyond petrochemicals to diversify and take on emerging markets. Digital transformation and sustainability are also high priorities as well as manufacturing creating new bulk chemicals storage capacity and new verticals related to the chemical industry.
The whole world is our stage!
Nurturing tech-savvy leaders for Petrochem’s future
The next generation inherently understands technology but relying solely on textbooks is not enough. Hands-on experience and mentoring ensure lessons stick. Succession is as much about passing on an entrepreneurial spirit as assets or position. The goal is for Rohan, and those after him, to lead Petrochem confidently into a new era and beyond.
I have every reason to believe that Rohan will be a very successful leader!
Stewarding a family enterprise across generations is an huge responsibility that I do not take lightly. While I hope to be around to offer counsel for many more years, it gives me confidence to see how far Rohan has come and his commitment to the company’s long-term success. The future maybe uncertain but with open communication and a shared vision between our generations, I believe Petrochem is in capable hands for its next phase of growth.
Whilst Rohan is still early in his leadership journey, I have no doubt that with our continued guidance and sharing our experience, he will thrive as a dynamic leader ready to guide our business boldly into the future and do much more than the previous generation.
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