Cairo – Mubasher: The board of directors of the Holding Company for Construction and Development (HCCD) decided to reform the board of directors of its subsidiary Heliopolis Company for Housing and Development (HHD).

The new board will serve a one-year term starting from 22 May 2020, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.

Under the decision, Khaled Zakaria El Adly Imam has been appointed as the chairman, while Tamer Mohamed Nasser has been named the managing director and CEO.

In April, the company said that an alternative plan for management rights will be announced soon. The new plan will be implemented under a new board of directors.