Credit Agricole Egypt Appoints Five New BOD Members

In a recent General Assembly meeting for the bank, Credit Agricole Egypt’s newly-elected Managing Director and Chairman Mr. François-Edouard Drion expressed confidence in the national economy and affirmed the bank’s commitment to implement its business plan to meet its performance objectives in Egypt.

“During CAE’s previous board meeting, the bank’s Board of Directors nominated five new members as part of the bank’s regular board rotation procedures,” said Mr. François-Edouard Drion, Chairman and Managing Director, Credit Agricole Egypt.

The new members are Mr. Hashem Abu Zeid, Mr. Karim Fanous, Mr. Hassan Hegazy, Mr. Laurent Paillassot and Mr. Bertrand Leveque representing Mansour Group & Credit Agricole S.A. in replacement of Mr. Mohamed Mansour, Mr. Yasseen Mansour, Mr. Youssef Mansour, Mr. Jean Laurent and Mr. Alain Massiera.

“The Board expresses its appreciation of the role of former chairman Mr. Mohamed Mansour for his guidance and leadership over the last two years,” said Mr. Drion, explaining that Mansour & Maghrabi for Investment and Development (MMID) will maintain 17% of the total shares of Credit Agricole Egypt, while Credit Agricole Group owns 60%. The remaining shares are owned by public subscribers.

“These nominations, as usual, are subject to validation by the Central Bank of Egypt,” added Mr. Drion.