Orascom Development Holding AG provided an update regarding the management of the Company following the tragic loss of its CEO Khaled Bichara. Samih Sawiris will assume the role of Executive Chairman to lead the Executive Management for an interim period until the appointment of a new CEO. Mr. Sawiris will lead and be assisted by an interim committee, which includes appointed members of the Board of Directors as well as members of Executive Management. In addition to Mr. Sawiris, the selected committee members are: Naguib S. Sawiris (Board member), Jurgen Fischer (Board member), Ashraf Nessim (Chief Financial Officer) and Abdelhamid Abouyoussef (member of the Executive Management). The role of the committee will be to (1) supervise and support management day to day, and (2) lead the appointment and onboarding of the new CEO.