Egypt’s Juhayna says Safwan Thabet resigns, names Ahmed Al Wakil as new board member

Egypt’s Juhayna Food Industries chairman Safwan Thabet resigned and has handed over the role of board member to Ahmed El Wakil, the company announced in a bourse filling on Wednesday.

“The Board of Directors of Juhayna Food Industries has unanimously decided to accept the resignation of Mr. Safwan Thabet as a member of the Board of Directors and to appoint Mr. Ahmed Mohamed Ahmed El Wakil, as an independent, non-executive board member.” Juhayna statement read.

El Wakil is also president of Alexandria Chamber of Commerce. Prior to this, he served as president of the Federation of Egyptian Chambers of Commerce, vice president of the Union of African Chambers of Commerce, and senior vice chairman of the Islamic Chamber of Commerce and Industry.

He was also vice president of the Association of the Mediterranean Chambers of Commerce and Industry (ASCAME).

On December 3rd, Juhayna appointed Seif El Din Thabet as acting chairman a day after its chairman was arrested. The company, Egypt’s largest dairy products and juices producer, said at that time that it did not know the reason for Safwan Thabet’s arrest.