Ali Shaker Rejects Contract Renewal With EGB

Ali Shaker, CEO and managing director of Egyptian Gulf Bank, will leave his post because his contract will be terminated on December 31^st and he does not want to renew it, sources said.

Sources expected that Mohamed El-Atreby, chairman of Egyptian Arab Land Bank (EALB), will succeed Shaker.

Abdel Megid Mohey El-Din, deputy chairman of EALB, will be promoted to be the chairman of the bank, if the Central Bank of Egypt (CBE) approves, sources added.

Shaker was named the managing director of EGB in October 2011, following Saeed Zaki who left the executive post to be a non-executive member of the board of directors.

EGB’s board of directors includes Mohamed Gamal El-Din as the chairman, Hamid Ahmed El-Rashid as deputy chairman and Ali Ismail Shaker as CEO and managing director. There are eight members of the board of directors which are Ashraf Abdel Tawab Salman, Saeed Zaki Mohamed, Sherif Salah El-Din, Heider Hassan Abdel Rasul, Raed Bukhamseen, Abdel Wahab Abdel Menem, Gamal Elsayed Abdel Aal and Sadek Hassan Sadek.

The Egyptian Gulf Bank’s Shareholders: