Akil Bashir; New EGX Board Member For Listed Firms

The Egyptian Exchange board of directors has announced that Eng. Akil Beshir, the Chairman of Telecom Egypt – TE (ETEL.CA), has become a the new board member to represent the firms listed in the EGX. Beshir will be Gamal Fawzy’s successor as EGX board member to represent the firms listed in the EGX.

The EGX had earlier approved Fawzy’s resignation as he had left his office as the managing director at Mena Touristic & Real Estate Investment (MENA.CA) and accordingly does not become the company representative anymore.

Worth mentioning, choosing Beshir to become the EGX board member was due to the fact that Gamal Fawzy had won the EGX board elections held in 2009 having 49 of vote cast; while Beshir had come second obtaining 35 votes only.

Meanwhile, Dr. Mohamed Omran – the EGX chairman – has welcomed Eng. Beshir to be the new board member. Omran also expressed his confidence that Beshir will contribute to the board’s success in its mission while upgrading the Egyptian bourse.