Aldar Group CEO Talal Shaffique Abdullah Al Dhiyebi (LinkedIn) will become SODIC’s new chairman after being voted in by the board Tuesday, replacing Osama Saleh who will now serve as deputy chairman, the company announced in an EGX disclosure (pdf) following the new board of directors’ first meeting on Tuesday. Our friend Magued Sherif (LinkedIn) will remain managing director of the company.

Reminder: The formation of the new board came after the Emirati consortium of real estate giant Aldar Properties and Abu Dhabi sovereign wealth fund ADQ in December acquired 85.5% of SODIC in an allcash, EGP 6.1 bn transaction. The new structure sees five representatives from Aldar on the board, and two other spots taken up by representatives from ADQ’s Gamma Forge. In addition to Sherif, and Saleh, Masar Chairwoman and CEO — and former investment minister — Dalia Khorshed rounds out the board as an independent director.

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