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Wednesday, 10 February 2021

New OFH management structure + Sena Erten tapped as Ericsson MEA VP

OFH management structure: Onsi Naguib Sawiris (LinkedIn) will become chairman of Orascom Financial Holding (OFH) — the spinoff company from Orascom Investment Holding that will be created in the upcoming horizontal demerger, OFH said in response to an inquiry from Hapi Journal. Sawiris is the co-founder and managing partner of NY-based HOF Capital, and is an investor in Swvl, Minly, Foundation Ventures, and UiPath. Nils Bachtler (LinkedIn) is CEO of OFH.

The spinoff will be complete by the end of the month, but trading of OIH shares on the EGX will be suspended as of tomorrow to allow for the spinout of assets into OFH. The new company will receive OIH’s 74.5% stake in Beltone Financial and 28.8% stake in Sarwa Capital. OIH will retain all of its investments in its eight subsidiaries, and its management structure will remain unchanged.

Sena Erten (LinkedIn) has been tapped as VP and head of people at Ericsson MEA, the company announced in a statement (pdf) yesterday. Erten has 20 years of experience working in human resources and joins the company from Mondelez International, where she headed up the HR department.

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