OIH names Naguib Sawiris as Executive Chairman

Updated 10/26/2022 10:27:00 AM

Arab Finance: The board of Orascom Investment Holding (OIH) has appointed Naguib Sawiris as Executive Chairman, according to a statement issued on October 26th.

This came after the board accepted the resignation of Akil Hamed Bashir from his position as the Non-Executive Chairman.

However, Akil will continue his role as a non-executive member of the board.

The company’s board also endorsed the appointment of Marwan Hussein as CEO.

“The company is looking forward to implementing its new strategy in the renewable energy and the real estate & touristic development sectors, especially in Africa and the Middle East, in order to maximize the value of the Company and the return to its investors, and open new markets for the Orascom," Sawiris commented.

OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector.

It mainly engages in global systems for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.