New fiscal year’s resolutions: Hoping to kick off the new fiscal year with a fresh start, the public and private sectors are busy appointing new and old faces to leadership positions.

#1- Prime Holding has terminated CEO Hassan Samir (LinkedIn), who also served as vice chairman and managing director of the company, according to an EGX disclosure (pdf). Samir took on the added roles of CEO, managing director, and vice chairman in January 2023 following a three-year stint as brokerage firm’s managing director for capital markets. He has been with the company for nearly two decades. Samir was fined EGP 1 mn by the company for “deliberately” missing the general assembly meeting during which the termination decision was issued, according to the disclosure.

#2- Allianz Egypt welcomes a new CEO: Allianz Egypt has appointed Charles Tawdros (LinkedIn) as the company’s new group CEO, the company said in a statement(pdf). Tawdros has more than 20 years of experience in the ins. and financial sectors and has served as the company’s managing director since 2019.

#3- The state-owned Industrial Development Bank has tapped a new CEO: The Industrial Development Bank yesterday welcomed Hussein Refaie (LinkedIn) as the lender’s new CEO and managing director, Al Borsa reports. Refaie brings in 40 years of banking and financial expertise, having worked for many banks, including CitiBank, Barclays, and the National Bank of Egypt. Refaie assumes his new post at IDB after leaving his managing director position at the Suez Canal Bank earlier this year.

#4- The legal system is also getting a shake up: President Abdel Fattah El Sisi has appointed Abdel Rady Seddiq as the new head of the Administrative Prosecution Authority and Ahmed Aboud as the new head of the State Council (Maglis El Dowla), Shorouk News reports (here, here).

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