{"id":585200,"date":"2023-04-12T00:00:00","date_gmt":"2023-04-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/12\/swvl-cfo-youssef-salem-resigns-mohamed-ayad-appointed-chairman-at-prime-holding\/"},"modified":"2023-04-12T00:00:00","modified_gmt":"2023-04-12T00:00:00","slug":"swvl-cfo-youssef-salem-resigns-mohamed-ayad-appointed-chairman-at-prime-holding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/12\/swvl-cfo-youssef-salem-resigns-mohamed-ayad-appointed-chairman-at-prime-holding\/","title":{"rendered":"Swvl CFO Youssef Salem resigns + Mohamed Ayad appointed chairman at Prime Holding"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Swvl Chief Financial Officer Youssef Salem<\/span><span style=\"\"> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/youssefsamysalem\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">) has <\/span><span style=\"font-weight:700\">resigned<\/span><span style=\"\"> from his <\/span><span>position effective 31 March, the company said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investors.swvl.com\/node\/8036\/html\" style=\"\">a SEC disclosure<\/a><\/span><span> at the end of last month. His resignation \u201cwas not related to any disagreement with Swvl on any matter relating to Swvl\u2019s operations, policies or practices,\u201d the company said. <\/span><span>Abdullah Mansour<\/span><span>, who was formerly the CFO for the company\u2019s Middle East business, has been appointed to the role on an interim basis. <\/span><span style=\"font-weight:400;\">Mansour has been at the company since December 2021, and previously served as senior associate with PricewaterhouseCoopers from 2017 to 2021.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Prime Holding <\/span><span style=\"\">appointed <\/span><span style=\"font-weight:700\">Mohamed Ayad <\/span><span style=\"\">as <\/span><span style=\"font-weight:700\">non-executive chairman<\/span><span style=\"\"> of the <\/span><span>company\u2019s board, replacing Mohamed Maher (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/mohamed-maher-33017035\/\" style=\"\">LinkedIn<\/a><\/span><span>), according to an<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/Prime%20holding%20appointed%20new%20non-exec%20chairman_526.pdf\" style=\"\">EGX disclosure (pdf)<\/a><\/span><span>. <\/span><span>Maher resigned after three months in the chairman role, having previously spent decades at the helm of Prime as its CEO and vice-chairman. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ca6d393-4b0b-4cb5-b8de-8e7a922bae33\" style=\"\">Hassan Samir<\/a><\/span><span> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/hassan-samir-farid-a03a1b43\/\" style=\"\">LinkedIn<\/a><\/span><span>) took on the CEO, vice-chairman, and managing director roles at <\/span><span style=\"font-weight:400;\">Prime in January. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More changes at Prime: <\/span><span>Investor relations director Gihane Halawa (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/gihane-halawa-cfa-386a8330\/?originalSubdomain=eg\" style=\"\">LinkedIn<\/a><\/span><span>) has resigned, leaving Mohamed Sayed as the sole IR director in the company. Board member Shahinaz Foda (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/primeholdingco.com\/shahinaz-foda\/\" style=\"\">bio<\/a><\/span><span style=\"font-weight:400;\">) also stepped down from her position.  <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abdullah Mansour appointed interim CFO at Swvl<\/p>\n","protected":false},"author":1,"featured_media":585201,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7231],"tags":[72,206,976,95,507,6994],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-moves","tag-enterpriseam","tag-moves","tag-prime-holding","tag-startup-watch","tag-swvl","tag-youssef-salam","wpautop","entry"],"acf":{"mongo_id":"4e8484a4-9b75-4383-9cc6-f2665dbb9606","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/539.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Swvl CFO Youssef Salem resigns + Mohamed Ayad appointed chairman at Prime Holding","related_issue":[585187],"teaser":"Abdullah Mansour appointed interim CFO at Swvl","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.3d7fe148-4033-412d-8c11-8ed2689c42f0.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The big ticket spending will come after the company completes its IPO on the Nasdaq, and will be used to help\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/299.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547956,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/20\/swvl-suspends-service-in-alexandria\/","url_meta":{"origin":585200,"position":1},"title":"Swvl suspends service in Alexandria","author":"enterpriseam admin","date":"20 July 2022","format":false,"excerpt":"Bye, Alexandria: Cairo-born mass transport app Swvl has suspended all its routes within the city of Alexandria as part of ongoing efforts to cut costs, Swvl CFO Youssef Salem confirmed to Enterprise. The company announced in May a raft of measures to reduce overheads in a bid to turn cashflow-positive\u2026","rel":"","context":"In &quot;Transport&quot;","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/207.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547998,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/swvl-losses-to-almost-double-this-year\/","url_meta":{"origin":585200,"position":2},"title":"Swvl losses to almost double this year","author":"enterpriseam admin","date":"21 July 2022","format":false,"excerpt":"Swvl expects losses to almost double this year: Cairo-born mass transport app Swvl is expecting its losses to widen to USD 90 mn this year from USD 50 mn in 2021, Swvl CFO Youssef Salem told Bloomberg Asharq. The Nasdaq-listed company still expects to turn a slight profit next year\u2026","rel":"","context":"In &quot;Transport&quot;","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544716,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/17\/swvl-to-invest-usd-15-mn-in-argentina-expansion\/","url_meta":{"origin":585200,"position":3},"title":"Swvl to invest USD 15 mn in Argentina expansion","author":"enterpriseam admin","date":"17 March 2022","format":false,"excerpt":"Mass transit firm Swvl is investing USD 15 mn in Argentina over the next three years to scale the company\u2019s operations in the country, CFO Youssef Salem told Enterprise. The investments will target research and development, and supply and customer acquisition, he said. Swvl also plans to use the funds\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/222.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555520,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/","url_meta":{"origin":585200,"position":4},"title":"Swvl to enter Chile, Argentina with Viapool acquisition","author":"enterpriseam admin","date":"17 November 2021","format":false,"excerpt":"Homegrown mass transport startup Swvl will enter Latin America for the first time with the acquisition of a controlling stake in transit company Viapool, which operates in Argentina and Chile, according to a company statement yesterday. The transaction values Viapool at around USD 10 mn, a source familiar with the\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/488.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555259,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/08\/swvl-to-invest-usd-25-mn-in-engineering-marketing\/","url_meta":{"origin":585200,"position":5},"title":"Swvl to invest USD 25 mn in engineering, marketing","author":"enterpriseam admin","date":"8 November 2021","format":false,"excerpt":"Homegrown mass transport startup Swvl plans to invest USD 25 mn over the next year, part of which will go towards its engineering team in Egypt, CFO Youssef Salem told Hapi Journal. A portion of the investment will also go towards its marketing plan, according to the report, which appeared\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/362.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=585200"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585200\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/585187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/585201"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=585200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=585200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=585200"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=585200"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=585200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}