Cairo – Mubasher: The board of directors of Ibnsina Pharma approved the appointment of Abdel Aziz Ali Abdel Aziz as a Non-Executive Chairman and Mohamed Mohsen Mohamed Mahgoub as Vice Chairman and CEO.
In addition, the board also named Mahmoud Abdel Gawad and Omar Abdel Gawad as Managing Directors, the company said in a bourse disclosure on Sunday.
The move is in line with the Financial Regulatory Authority’s (FRA) regulations to separate the positions of the chairman, the CEO, and the managing director.
In 2020, Ibnsina Pharma recorded net profits of EGP 224.66 million, down from EGP 328.77 million a year earlier, including minority shareholders’ rights.
