Naguib Sawiri resigns from Orascom Investment Holding as Chairman

Orascom Investment Holding (OIH) board approved on Wednesday the resignation of Egyptian business tycoon Naguib Sawiris from his position as the chairman while keeping the position of the CEO and managing director.

Akil Hamed Bashir has been appointed as the new Non-Executive Chairman, OIH added in a statement.
The board also approved the resignation of Sameh El-Torgoman and the appointment of Wafaa Shoukry Zaklama as a Non-Executive Board Member starting from May 1.

The decision will be referred to the company’s shareholders for approval.

Beltone Securities Holding announced that shareholder Mahmoud Ahmed Mahmoud Lashin raised his share in the capital of Orascom Investment Holding Company from 9.96 percent to 10.25 percent.