Juhayna’s CEO & Deputy Chairman detained; stock slides more than 11%

Juhayna Food Industries announced that its CEO and Deputy Chairman, Seif El-Din Thabet, has been detained pending an investigation.

The company said that it has no further information regarding the investigation, according to a bourse disclosure on Sunday.

In December 2020, the company announced the detention of its Chairman Safwan Thabet, pending an investigation, and approved the appointment of Mohamed Abdullah Mohamed El-Dogheim as the company’s new chairman.

At 10:49 a.m. Cairo time, the company’s stock slid by 11.74 percent to EGP 5.94.