Marka has announced a new CEO as the retail-focused company continues to report huge losses. Benoit Lamonerie takes up his role from May 28, 2017. Lamonerie has 20 years of experience, including managing major projects in the retail, hospitality, entertainment and real estate sectors, both in the UAE and abroad. He replaces Nick Peel, who resigned last year after failing to turn a profit since Marka was established in 2014. Peel had said that he would make Marka become profitable by the fourth quarter of 2015.