OCI World Publicizes Management Adjustments

AMSTERDAM, Oct. 15, 2024 /PRNewswire/ — OCI World (Euronext: OCI) (“OCI” or the “Company”) a important international manufacturer and distributor of hydrogen merchandise these days introduced that Mr. Ahmed El-Hoshy has knowledgeable the Board that he’s going to renounce as CEO of OCI upcoming greater than 4 years within the function, and that he’s going to proceed because the CEO of Fertiglobe on a full-time foundation, to supremacy it thru its nearest section of expansion. Mr. Hassan Badrawi, OCI’s stream Leading Monetary Officer will think duty as Leading Government Officer of OCI. Mr. Beshoy Guirguis, OCI’s stream Vice President of World Enlargement and Transformation, and Leading Monetary Officer of OCI US Nitrogen will think the function of Leading Monetary Officer of OCI. All adjustments will turn into efficient in an instant.

Nassef Sawiris, Government Chairman of OCI commented: “I want to express my appreciation for Ahmed’s significant contribution over the last 15 years, for his leadership and dedication, and to wish him continued success in his onward journey with Fertiglobe. Looking to OCI’s future, we are entering a new development phase with a refocus on investments and M&A, facilitated by a multi-billion-dollar equity investment capacity (excluding incremental dividend distributions to be announced), an exceptional management team and a superior track record. Since 2000, OCI has returned approximately USD 20 billion of capital¹ to its shareholders, or an equivalent approximate 40% IRR². Going forward, OCI as a listed vehicle will continue to deploy its entrepreneurial, intellectual and financial capital in the same pursuit of creating shareholder value. I very much welcome Hassan’s appointment as CEO, a 23-year OCI veteran who brings with him a wealth of directly relevant experience to this new stage of growth in his prior capacity as CFO and Head of M&A having been responsible for OCI’s recent strategic review, its successful outcome and having overseen our USD 15 billion cement exit in 2008. I am very confident that under Hassan’s leadership, OCI will continue to create long-term value for our shareholders, advancing an extraordinary legacy and track record to date.”

Ahmed El-Hoshy, Leading Government Officer of OCI commented: “Over the past 15 years, I have witnessed OCI emerge as a global leader in fertilizers and chemicals. I am honored to have been a part of this incredible journey and to have contributed to OCI’s success on behalf of all our stakeholders. It has been a privilege to lead OCI and I am extremely proud of what we have built together, and of the enduring value and goodwill that has been created. I am grateful to my colleagues, to the Board and to all our shareholders for their unwavering commitment and support over the years. I look forward to the next chapter with Fertiglobe and am certain that OCI is poised for continued success.”

In his Leading Government function, Mr. El-Hoshy has led the Corporate’s way to prioritize price accretive decarbonization expansion throughout its international portfolio to turn into an trade chief within the ammonia and methanol sectors. Over the endmost date, Mr. El-Hoshy has performed an integral function within the a success divestment of a number of industry to strategic patrons to liberate important price for shareholders. In the past, Mr. El-Hoshy led the expansion of OCI’s US and Ecu companies, in addition to being closely concerned within the founding and next preliminary family providing of Fertiglobe in 2021. Since becoming a member of OCI in 2009, Mr. El-Hoshy has held a number of positions around the Crew together with World Leading Working Officer, Leading Government Officer of OCI Americas, and Director of Trade Construction and Investments.

In his capability as Crew Leading Monetary Officer reporting into the Government Chair and the Board of Administrators, Mr. Badrawi has been instrumental in directing OCI’s M&A actions, in important OCI’s monetary and capital markets technique, and in assuming duty for the Finance, Investor Members of the family and Communications purposes. Since becoming a member of OCI in 2001, Mr. Badrawi has held numerous management positions throughout Finance, Investor Members of the family, M&A, Company and Trade Construction, Technique and Challenge Control. Mr. Badrawi additionally served at the Board of OCI World and Fertiglobe.

Mr. Guirguis lately serves as Vice President of World Enlargement and Transformation, and Leading Monetary Officer of OCI’s US Nitrogen industry. In the past, Mr. Guirguis was once Leading Monetary Officer of OCI Americas, together with OCI Companions previous to its delisting. Since overdue 2011, Mr Guirguis has been a key a part of the management group accountable for OCI’s expansion and assemble out in North The united states, endeavor numerous roles together with challenge construction and fiscal control, and has intensive enjoy within the monetary, commercial, and petrochemical industries.

¹ Comprises the introduced EUR 14.5 in step with percentage distribution and ~USD 2.4 billion of non-cash returns
² Control estimate

About OCI World

Be told extra about OCI at www.oci-global.com. You’ll be able to additionally observe OCI on LinkedIn.

Touch Main points

Sarah Rajani CFA, World Vice President Investor Members of the family and Communications
Electronic mail: [email protected] 

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