Egypt billionaire Naguib Sawiris resigns as Orascom CEO

05/12/2016 Argaam

Egyptian billionaire Naguib Sawiris has stepped down as the chief executive officer of Orascom Telecom Media and Technology Holding (OTMT) with effect from Jan. 1, 2017, the Egypt-listed company said in a statement without providing a reason for his resignation.

 

Sawiris has nominated Tamer El Mahdi, deputy CEO, as his successor, the statement added.

 

Orascom also said a member of the board of directors, Yousef Shoukry, had submitted his resignation and Khaled Ellaicy had been appointed as his successor. Shoukry was responsible for financial and administrative affairs.

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