Finance Monthly CEO Awards 2015 Edition

1 www.finance-monthly.com FINANCE MONTHLY 87 EUROPE NORTH AMERICA ASIA MIDDLE EAST AFRICA AUSTRALASIA FINANCE MONTHLY CEO AWARDS 2015 years, acting both locally and globally. He was recognized at the Ernst & Young World Entrepreneur of the Year event in June 2015 for his global contributions in philanthropy in “Reshaping the World.” Locally, he proudly supported and served on the Board of Directors of the Chicago Urban League and is active with organizations such as Clearbrook, The Little City Foundation, The Museum of Science and Industry, The United Way and the Boys and Girls Club. He also served on the Board of Directors of Confluence Watermark, Pan Am Flight Academy, SPL and the Clipper Corporation. Furthermore, Mr. Bassoul has been awarded the Ernst & Young Entrepreneur of the Year Award and the Young President’s Organization (YPO) International Legacy Award. He is a member of the Chicago area Entrepreneurship Hall of Fame. He received the Northwestern University alumni Merit Award for his service to the community. On a more global scale, Selim and Middleby collaborated with Entrepreneurs Without Borders on a multi-national project addressing the global refugee crisis. In response to 50 million refugees in the world, they developed a stove for refugees. This stove is extremely intuitive, affordable and highly patented. It has a magnifying glass and acts as a solar panel, it purifies water and charges cell phone with no electricity through heat transfer. It will free the lives of women and girls; instead of spending hours searching for wood to cook, it allows them to find time to go to school and find decent employment. In 2014, Selim decided to expand this velocity of goodness into the Bassoul Dignity Foundation: a non-profit organization that gives young adults and displaced people a second chance. In 1999, you predicted that in 10 years the company would be more than $1 billion in revenues and you achieved that in less than 10 years. Where do you see yourself and Middleby in the next 5 years? The next 5 years for Middleby will be very exciting by continuing to achieve organic gains, by making bolt-on acquisitions and by entering new fields. We are developing solutions to offer a higher quality of life and a better experience. At Viking and Uline, we are creating smart appliances for the home with innovative designs using the expertise from our commercial technologies. We will be the first manufacturer that offers ovens that require no pre-heating, and refrigerators that extend the life and freshness of the products for weeks at a time without having to use replaceable filters. We are also pushing ahead with a new appliance that will prepare your meal (refrigerate, cook, warm and hold) on demand and that you can activate remotely at any time, which will disrupt the definition of cooking. We are also envisioning a new kind of collaboration, the introduction of “cobots”, robots working alongside humans in commercial and catering kitchens. Due to the high turnover rate, the extended hours of operations, and the unrewarding pay and satisfaction, restaurants will have difficulties workers. In partnership with Northwestern University and Rethink Robotics, Middleby just introduced a $40,000 robot. These robots perform mundane tasks such as loading and unloading dishwashers, flipping burgers, frying potatoes. It will be the first company to introduce an affordable robot with a pay-back of less than one year. In connection with Imperial College of London (UK), we are also launching an affordable solution that can turn waste into compost or biofuel. 80% of food and solid waste are generated by restaurants. Most of that waste ends up in landfills. If we can automate the kitchen, steam without water, cook without hoods, toast bread in 30 seconds, I am positive that we’ll change the way people handle waste. At first, we started impacting one restaurant at a time, then a chain of restaurants, then people in their homes. Now I want Middleby to have a bigger legacy of impacting governments, cities and the world by resolving a void in our ecosystem that is invisible to others. Q How is Selim Bassoul reshaping our world? Selim A. Bassoul The Middleby Corporation Lebanon / US

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