Mubasher TV
Contact Us Advertising   العربية

Madinet Nasr for Housing and Development's CEO resigns

Madinet Nasr for Housing and Development's CEO resigns
El-Hitamy will act as a consultant to the company until the end of 2021
Madinet Masr
MASR
-1.08% 3.67 -0.04

Cairo – Mubasher: Madinet Nasr for Housing and Development (MNHD) approved the resignation of Ahmed El-Hitamy from his position as the company’s CEO and Board Member to join his family business.

El-Hitamy will act as a consultant to the company until the end of 2021, MNHD said in a bourse disclosure on Monday.

The Chairman will take on the CEO's responsibilities until a successor is named.

During 2020, MNHD achieved net profits of EGP 1 billion, slightly up from EGP 980.89 million in 2019, including minority shareholders’ rights.