Orascom finds new CEO
Omar El Hamamsy, previously a senior partner at McKinsey, will become the new CEO of Orascom Development Holding on September 1, 2020. Currently, Samih Sawiris is managing the company on an interim basis.
Samih Sawiris had taken over the position of Chief Executive Officer (CEO) of Orascom Development Holding on an ad interim basis earlier this year, after the previous CEO Khaled Bichara was killed in an accident.
Now, the company's board of directors has announced the appointment of Omar El Hamamsy as CEO, effective September 1, 2020. El Hamamsy joins from McKinsey & Company, where he is currently a senior partner in the Middle East office. He spent 18 years with the consultancy, leading the travel and transportation practice groups, among others. There, he also supported transformation projects of multinational companies in the Middle East and Europe and was involved in cross-border acquisitions and integrations, Orascom says.
The new CEO also marks the end of the interim committee, which was created in February 2020 for the transition phase. Samih Sawiris, Jürgen Fischer and Naguib S. Sawiris plan to return to their roles as members of the board of directors, according to a statement from Orascom. Abdelhamid Abouyoussef will assume the new position as president of Orascom Hotels Management (OHM) and step down from the executive management team. Ashraf Nessim will remain Chief Financial Officer (CFO) and a member of the Executive Management Team. Karim Hassan, currently Head of Business Development, has been appointed to the Executive Management Team. (ah)
