4 Acquisition International - Global CFO Excellence Awards 2023 Jun23182 Best Broadcast Media CFO 2023 (Middle East): Hussam Alnouri Taking up the mantle of Chief Financial Officer is a staggering achievement in itself, but it takes a certain kind of person to elevate the position beyond its already crucial role. Hussam Alnouri, CFO of MBC GROUP is one such person, and it’s his passion and overwhelming dedication to the role that has allowed him to expertly govern the leading media organisation’s finance function. s someone who has always had a love for numbers and analytics that ran deeper than the surface-level understanding most of us have, Hussam quickly realised where his expertise was best suited and joined the finance and accounting sphere. Working as a banker whilst pursuing his degree, he was able to garner a solid understanding of the internal operations that partnered finances, which ultimately led to his rapid growth within the industry. However, it wasn’t until 2002 that he joined MBC GROUP as a Finance Manager. Following the completion of his executive banking studies at Bankakademie International and Commerzbank AG, Hussam took his career to new heights. Although he initially started as a Finance Manager at MBC GROUP, his remarkable drive and passion for his work propelled him forward. In 2018, Hussam was appointed as the group’s Chief Financial Officer (CFO). Through his current role, Hussam is able to apply his wealth of knowledge and experience not only to manage MBC GROUP’s finance function, but to spearhead it completely. From organising to overseeing the organisation’s financial activities, Hussam applies his diverse understanding of the finance and accounting sphere in order to serve as the Group’s financial backbone. Additionally, as a result of MBC GROUP’s incredibly impressive reach, Hussam consistently brings an undeniable professionalism to the role that allows him to coordinate the financial positions of several companies and joint ventures spanning a wide variety of countries. As the leading media organisation in the Middle East and North Africa (MENA), MBC GROUP encompasses a range of business streams, including linear TV, radio, an OTT platform in the form of Shahid, social media, original TV productions, music production and publishing, gaming, and events. Its catalogue is so incredibly varied, meaning it takes a truly skilled individual to pilot its financial function. But how does Hussam accomplish this monumental feat? When we discussed with Hussam how he effectively manages the responsibilities of his CFO position, he expressed his strategy of securing a robust financial position for the company. Partner this with his dedication towards achieving sustainable top-line growth, continuously optimising margins, implementing proactive tax planning, and efficiently managing cash flow, and you’ve got a man whose prowess truly matches his passion. A In addition to his impressive array of highly developed skills, Hussam also possesses a unique understanding of the industry that only serves to enhance his professionalism. He recognises that, like the industry as a whole, it is a CFO’s responsibility to have a firm grasp on adaptations and evolutions as they occur. Whether it’s fluctuating indexes, recessions, or political instability, a CFO should be able to remain agile to keep up with the trends. By adopting this mindset, Hussam has secured a steadfast position within the industry that prepares him for anything that comes his way. This, partnered with his unique leadership style, makes for an incredibly successful financial department that’s able to help MBC GROUP truly shine. When explaining his approach to managing his team, Hussam emphasises the importance of establishing clear expectations. He recognises the importance of each employee being aware of their career objectives, but places even greater importance on fostering a unified focus to encourage strength among co-workers. Stepping outside of one’s comfort zone often heralds a plethora of results, and Hussam leads the way in promoting this message to his team. Following the belief that success is an ever-evolving term that keeps moving with the progression of the industry, Hussam commits himself to continuously raising his personal bar in order to keep learning. Despite his current position, he has numerous aspirations he actively pursues, and sees it as incredibly beneficial to constantly outdo your best in order to become the penultimate version of yourself. Hussam’s statement encapsulates this mindset best when he states: “Holding the position of CFO is not enough; today’s CFOs should embrace the concept of being ‘learning CFOs’. This means constantly evolving and upgrading your skillset and knowledge. By continually developing ourselves, we are better equipped to drive growth and progress within our organisations. Never stop learning!” This piece of crucial advice cements Hussam’s inspirational mindset, clearly defining his approach to personal advancement. Hussam stands out as a unique individual in the financial sphere. His rapid progress stems from his unwavering determination, and yet he seeks to uplift those around him through the skills that he’s accumulated throughout his many years of dedicated learning. He expresses how a winning mindset is what drives the industry forward, and this perspective is shared by the entire MBC GROUP community.
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