Egyptian billionaire Naguib Sawiris has resigned as CEO of Orascom and his deputy Tamer El-Mahdi has been nominated as his successor, the company said on Sunday.
“Naguib Sawiris has submitted his resignation from his position as CEO effective Jan. 1, 2017,” Orascom Telecom Media and Technology Holding (OTMT) said in a statement.
Orascom has holdings in media, technology and cable businesses, but under Sawiris has sought to move further into the financial sector by creating a major investment firm. Sawiris, whose interests range from construction to telecommunication, is a well-known business figure in North Africa and the Middle East.

Source: Arab News