Orascom, handover of Samih Sawiris to his son Naguib
Generational change at Orascom Development Holding (Odh), multinational company based in the canton of Uri and activities in the hotel and real estate sector: the chairman of the board of directors (BoD) and majority shareholder Samih Sawiris he will hand over his office and control of the company to his son Naguib Sawiris. The handover will take place at the next general meeting, in the spring of 2022, the company indicated today. The founder of the company – which belongs to the Coptic Christian minority in Egypt – will however continue to be available as a consultant.
Orascom, Samih Sawiris: proud of all we have built
“When I look back over the past 30 years I am very proud of everything we have built,” he says Samih Sawiris, quoted in a statement. “It has been a rewarding journey and I am grateful to everyone who has been involved. Now is the time to focus on the next chapter of ODH. Naguib’s experience developing successful technology companies in the United States and his active role at Odh during the coronavirus crisis make me confident in his abilities to lead the business, alongside CEO Omar El Hamamsy and the backing of the board of directors. administration”.
Samih Sawiris remains the main shareholder of Andermatt Swiss Alps
Naguib Sawiris (full name: Naguib Samih Sawiris) has been a member of the board since 2016 and took over as vice president in 2020. Samih Sawiris however, he remains the main shareholder and chairman of the board of directors of Andermatt Swiss Alps, the entity that manages the tourist and real estate complex created by the entrepreneur in Andermatt (UR). ODH holds a 49% stake in the company and the majority is privately owned by Samih Sawiris.
Ohh is present in seven countries (Egypt, United Arab Emirates, Oman, Switzerland, Morocco, Montenegro and the United Kingdom). The group operates 33 hotels with a total of 7200 rooms and controls an area of 101 million square meters. The company was founded in 1989 (then it was the Orascom Hotels and Development) and in March 2008 the international headquarters was established in Altdorf. The company has been listed on the Swiss stock exchange since May 2008. The performance of the Odh stock since the beginning of the year is + 22%.
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