Samih Sawiris' son is to take over at Orascom
There is a change in management at the real estate and hotel company Orascom DH. After 30 years, Samih Sawiris hands over the helm to his son Naguib Sawiris. However, he remains President and majority shareholder of Andermatt Swiss Alps AG.
Orascom Development Holding ( Orascom DH ) announces a change in leadership. Samih Sawiris will step down from his position as Chairman of the Board of Directors at the next Annual General Meeting in spring 2022 after more than 30 years. The Egyptian investor does not stand for re-election.
His son Naguib will propose Samih Sawiris as Chairman of the Board of Directors. He has been a member of the Board of Directors since 2016 and its Vice Chairman since 2020. As part of the planned succession plan, Naguib Samih Sawiris is to become the new majority shareholder in Orascom DH. Samih Sawiris will transfer control to his son for this.
Samih Sawiris wants to continue to be available to the holding company as a consultant. He also remains Chairman of the Board of Directors of Andermatt Swiss Alps AG . Orascom DH holds a 49 percent stake in Andermatt Swiss Alps AG. The majority is and remains privately owned by Samih Sawiris.
In total, the Orascom DH portfolio includes destinations in seven countries. In addition to Switzerland, these include Egypt, the United Arab Emirates, Oman, Morocco, Montenegro and Great Britain. The holding's shares are listed on the SIX.