👟 🚫 Adidas Drops Bella Hadid from Campaign Amid Israeli Backlash

Marhaba folks! 🌞In today's edition, we cover Adidas dropping Bella Hadid amid Israel backlash, a customer's threats from an Egyptian transportation company, and HSBC appointing Georges Elhedery as CEO for his Middle Eastern expertise. Yalla, let’s go 🏃🏻‍♀️

👟 🚫 Adidas Drops Bella Hadid from Campaign Amid Israeli Backlash

What is it about:

• Adidas pulled Bella Hadid from its ad campaign promoting SL72 trainers.

• Hadid, known for her Palestinian heritage, faced criticism for previous comments and actions.

• The controversy stemmed from Hadid's involvement due to her perceived stance on Israeli-Palestinian issues.

• The campaign was linked to the 1972 Munich Olympics tragedy where Israeli athletes were killed by Palestinian terrorists.

Why does it matter:

• The decision reflects Adidas's response to public backlash and sensitivity around historical tragedies.

• It underscores the complexities of brand ambassadorship in a politically charged context.

• Adidas aims to uphold values of inclusivity and respect, as seen in previous actions regarding Kanye West.

What is next:

• Adidas is revising the campaign without Bella Hadid, though specific changes were not detailed.

• The incident prompts ongoing discussions about brand responsibility in political and social issues.

• The fallout highlights the challenges companies face in navigating cultural and historical sensitivities.

📈 Markets

🚌 Egyptian Engineer Accuses GoBus Transportation of Negligence

What is it about:

• Zyad Elsoudy, an Egyptian engineer, accused GoBus Transportation of negligence and poor customer service.

• His large hand baggage went missing during a trip from Alexandria to Cairo, containing crucial personal and professional items.

• Despite efforts to resolve the issue through GoBus's customer service and filing complaints, Elsoudy felt ignored and frustrated by the company's response.

Why does it matter:

• The incident highlights issues of customer service and accountability within GoBus Transportation.

• It underscores the impact of such negligence on individuals' personal and professional lives.

• The public outcry on social media and involvement of prominent figures like Shahy Moussa reflect broader concerns about transportation services in Egypt.

What is next:

• Zyad Elsoudy has taken legal action by filing a police report and complaints with relevant authorities.

• The incident has sparked public discussion and scrutiny over GoBus's handling of customer complaints.

• There is ongoing attention on social media and potential for further developments in resolving the issue and ensuring accountability.

Quote of the day

"Creativity is thinking up new things. Innovation is doing new things." - Theodore Levitt

🏦 HSBC Names Lebanese Georges El Hedery as New CEO

What is it about:

• HSBC has appointed Georges Elhedery, originally from Lebanon, as its new CEO.

• Elhedery will succeed Noel Quinn, becoming HSBC's third CEO in less than eight years.

• The appointment signifies HSBC's preference for continuity by promoting from within despite considering external candidates.

Why does it matter:

• Elhedery brings extensive experience, having served as HSBC's CFO and co-headed the global banking and markets division.

• His background in the Middle Eastern, North African, and Turkish markets adds strategic value to HSBC's global operations.

• The appointment highlights HSBC's strategic direction and leadership stability during a pivotal transition phase.

What is next:

• Georges Elhedery will officially assume his new role as CEO in September.

• His priorities include maintaining stability and driving growth as HSBC transitions from restructuring to focusing on expansion.

• There will likely be continued scrutiny and assessment of Elhedery's leadership in steering HSBC's growth trajectory.

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