Orascom Investment Holding announced that its board of directors approved the resignation of Naguib Sawiris from his position as the Chairman while keeping the position of the CEO and Managing Director. Akil Hamed Bashir has been appointed as the new Non-Executive Chairman. The board also approved the resignation of Sameh Youssef El-Torgoman and the appointment of Wafaa Shoukry Zaklama as a Non-Executive Board Member starting from 1 May 2021.