Cairo – Mubasher: The board of directors of Orascom Development Egypt announced the appointment of Abdelhamid Abouyoussef as a board member and an interim CEO, succeeding Khaled Bichara who passed away in a car accident on 31 January.
The board also approved the appointment of Ashraf Nessim, the company’s chief financial officer (CFO), as an interim co-CEO, the company said in a bourse disclosure on Tuesday.
These new appointments will be effective immediately, the statement showed.
On 30 January, the company’s board approved the appointment of Samy Saad Zaghloul as the new chairman, following the resignation of Manal Hussein Abdelrazik.
It is worth mentioning that during the first nine months of 2019, Orascom Development Egypt posted net profits of EGP 501.2 million, compared to EGP 274.06 million in the year-ago period, including minority shareholders’ rights.
