EGB Announces Ali Shaker’s Resignation

Egyptian Gulf Bank (EGB) revealed in a statement today to the Egyptian Exchange (EGX) that Ali Shaker, CEO and managing director of the bank, resigned.

Amwal Al Ghad had earlier reported that Shaker rejects an offer from the bank to renew his contract which ends on December 31^st. Mohamed El-Atreby will succeed Shaker, if the Central Bank of Egypt (CBE) approves.

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: