Six of October Development & Investment Company – SODIC – (OCDI.CA) said the board has accepted the resignation submitted by the company’s Vice Chairman and Managing Director Maher Maksoud, effective as of March 31st, 2013.
It has also named Ahmed Demerdash Badrawy SODIC’s board member and managing director.
Maher Maksoud has been the Managing Director of SODIC. He took over the management of SODIC in March 2006, bringing to the company his entrepreneurial spirit, vision and significant experience in the real estate market in Egypt. His mandate was to exploit the increasingly favorable Egyptian economic climate and real estate sector to turn SODIC into a major regional real estate player.
Maksoud started his career as a Director of Development at Orascom Projects and Tourist Developments (OPTD). He spent a total of eight years at OPTD culminating in his promotion to Executive Vice President in 1996 and CEO of the hotel division in 1998.
In 2001, he started his own restaurant business, becoming the Managing Partner of Delicious Inc. S.A.E. which developed Cilantro, Egypt’s market leading chain of cafés, which he sold in 2005, realizing a 2500% return on initial investment, having opened 18 outlets with a staff of 500 employees.
Maksoud holds a Masters’ degree in Economics from the London School of Economics and a Bachelor’s degree in Economics from the American University in Cairo.
