February 4, 2020 / 6:06 AM / 13 days ago

BRIEF-Orascom Appoints Samih Sawiris As Interim Executive Chairman

Feb 4 (Reuters) - ORASCOM DEVELOPMENT HOLDING AG:

* PROVIDES UPDATE ON INTERIM MANAGEMENT.

* SAMIH SAWIRIS WILL ASSUME ROLE OF EXECUTIVE CHAIRMAN TO LEAD EXECUTIVE MANAGEMENT FOR AN INTERIM PERIOD UNTIL APPOINTMENT OF A NEW CEO

* MR. SAWIRIS WILL LEAD AND BE ASSISTED BY AN INTERIM COMMITTEE, WHICH INCLUDES APPOINTED MEMBERS OF BOARD OF DIRECTORS AS WELL AS MEMBERS OF EXECUTIVE MANAGEMENT

* IN ADDITION TO MR. SAWIRIS, SELECTED COMMITTEE MEMBERS ARE: NAGUIB S. SAWIRIS (BOARD MEMBER), JÜRGEN FISCHER (BOARD MEMBER), ASHRAF NESSIM (CHIEF FINANCIAL OFFICER) AND ABDELHAMID ABOUYOUSSEF (MEMBER OF EXECUTIVE MANAGEMENT)

* ROLE OF COMMITTEE WILL BE TO (1) SUPERVISE AND SUPPORT MANAGEMENT DAY TO DAY, AND (2) LEAD APPOINTMENT AND ONBOARDING OF NEW CEO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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