Arab Finance: Emaar Misr for Development has issued a clarification regarding its executive structure, confirming that no Chief Executive Officer (CEO) has been appointed, as per a disclosure.
The company stated that its Managing Director, Mohamed Alabbar, maintains direct and full oversight of Emar Misr's business operations and affairs, supported by the Board of Directors and the executive management team.
According to the clarification, the appointment of Mohamed Eid as an Executive Board Member falls within this framework. The company said Eid's role is to support Alabbar in carrying out his responsibilities as Managing Director and to contribute to overseeing and advancing the company's operations and strategic objectives.
Emaar Misr emphasized that Alabbar remains responsible for the management and oversight of the company's activities, reiterating that no CEO position has been filled.
On June 1st, the real estate developer announced that Mostafa Mounir El Kady’s employment contract in his capacity as CEO had been terminated
