Emaar Misr CEO Mostafa El Kady is out, Mohamed Alabbar takes over

Emaar Misr CEO Mostafa El Kady was terminated on May 25, according to an EGX disclosure (pdf) , with group founder Mohamed Alabbar (LinkedIn) stepping in to run Egyptian operations. Alabbar will exercise “direct and full oversight of the company’s business operations and affairs,” Emaar Misr said In a separate disclosure (pdf), with board member Mohamed Eid re-designated from non-executive to executive director to support him in the expanded capacity (pdf). The company disclosed that it has not appointed a new CEO.