Cairo – Mubasher: Madinet Nasr for Housing and Development (MNHD) approved the resignation of Ahmed El-Hitamy from his position as the company’s CEO and Board Member to join his family business.

El-Hitamy will act as a consultant to the company until the end of 2021, MNHD said in a bourse disclosure on Monday.

The Chairman will take on the CEO’s responsibilities until a successor is named.

During 2020, MNHD achieved net profits of EGP 1 billion, slightly up from EGP 980.89 million in 2019, including minority shareholders’ rights.

Source: Mubasher

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