Cairo – Mubasher: Al Ezz for Ceramics and Porcelain (GEMMA) said Wednesday that steel tycoon Ahmed Ezz is not a member of its board of directors, and does not occupy any executive positions in the company.

The Cairo Criminal Court ordered on Tuesday the arrest of Ezz and Amr Assal, the former chairman of the Industrial Development Authority (IDA), pending their retrial on charges of wasting public money.

Al Ezz for Ceramics and Porcelain’s chairman is Mohamed El Beblawy, who represents Al Ezz Group Holding for Industry and Investment.

The company’s stock declined Tuesday to EGP 7.09.