Orascom Development Holding AG

DGAP-Adhoc: Orascom Development Holding AG: New Organizational Structure approved by the Board of Directors.

Orascom Development Holding AG  / Key word(s): Miscellaneous/Miscellaneous

15.04.2014 07:05

Release of an ad hoc announcement pursuant to Art. 53 KR

New Organizational Structure approved by the Board of Directors.

Altdorf/Cairo, 15 April 2014 - The Board of Directors of Orascom
Development Holding AG (Orascom Development) endorsed a new organizational
structure that better reflects the current business needs and supports the
restructuring of the Group.

The newly assembled five-headed Executive Management team will continue to
be led by the Chief Executive Officer (CEO) and will further consist of the
Chief Financial Officer (CFO), Chief Hotels Officer, Chief Real Estate &
Development Officer as well as the Chief Human Resources Officer (CHRO).

The Board of Directors appointed Dalia El Gezery as the CHRO. Dalia will
start her new position on September 1st, 2014. As a Senior HR Executive,
Dalia has more than 20 years of international experience in leadership and
providing innovative human capital management solutions. Since 2000, she
held different senior management roles at Vodafone Egypt serving most
recently as HR Director and member of the Executive Management. In this
function, Dalia transformed the HR operating model into a business driven,
strategy focused organisation and built a trademark working environment
that was awarded the title of "Egypt's Best Employer" for 5 consecutive
years by Nelson Research. Dalia also sits on the board of the Vodafone
Foundation. Before joining Vodafone, Dalia worked for Lloyd's insurance
company in the UK and AT&T/Lucent Technologies in the Middle East & Egypt.
Dalia has a Management Diploma in Business Administration and Human
Resources from the American University in Cairo and is about to complete a
Master of Science in Coaching and Behavioural Change from Henley Business
School at the University of Reading, UK.

As earlier announced, Abdelhamid Abouyoussef is now the Chief Hotels
Officer and still to be appointed is the Chief Real Estate & Development
Officer. As part of this reorganization, to strengthen the management
capacity in the local business units and to streamline the holding
structure, Julien Renaudperret and Ali Elhitamy will resign from the
Executive Management, effective immediately. Julien Renaud-Perret will
assume the role of Managing Director of Oued Chibika Development (SA), the
Group's subsidiary in Morocco and Ali Elhitamy will focus on his role as
Managing Director of Orascom Hotels and Development, the Groups Egyptian
subsidiary. The Board of Directors likes to thank both of them for their
valuable contributions on the Executive Management and wish them all the
best in their new roles

About Orascom Development Holding AG

Orascom Development is a leading developer of fully integrated destinations
that include hotels, private villas and apartments, leisure facilities such
as golf courses, marinas and supporting infrastructure. Orascom
Development's diversified portfolio of destinations is spread over eight
jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro
and United Kingdom), with primary focus on touristic destinations and
budget housing. The Group currently operates eight destinations; four in
Egypt El Gouna, Taba Heights, Haram City and Makadi, The Cove in United
Arab Emirates , Jebel Sifah and Salalah Beach in Oman and Andermatt in
Switzerland. Orascom Development has a dual listing, with a primary listing
on the SIX Swiss Exchange and a secondary listing on the EGX Egyptian

Investor Relations Contacts
Sara El-Gawahergy
Investor Relations Director
Tel: +202 2461 89 61
Tel: +41 41 874 17 11
Email: ir@orascomdh.com
Contact Media Relations

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plans or objectives. Forward-looking statements include statements
regarding our targeted profit improvement, return on equity targets,
expense reductions, pricing conditions, dividend policy and underwriting
claims improvements. Undue reliance should not be placed on such statements
because, by their nature, they are subject to known and unknown risks and
uncertainties and can be affected by other factors that could cause actual
results and Orascom Development Holding AG's plans and objectives to differ
materially from those expressed or implied in the forward looking
statements (or from past results). Factors such as (i) general economic
conditions and competitive factors, particularly in our key markets; (ii)
performance of financial markets; (iii) levels of interest rates and
currency exchange rates; and (vii) changes in laws and regulations and in
the policies of regulators may have a direct bearing on Orascom Development
Holding AG's results of operations and on whether Orascom Development
Holding AG will achieve its targets. Orascom Development Holding AG
undertakes no obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information, future
events or circumstances or otherwise. It should further be noted, that past
performance is not a guide to future performance. Please also note that
interim results are not necessarily indicative of the full-year results.
Persons requiring advice should consult an independent adviser.

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Language:               English
Company:                Orascom Development Holding AG
                        Gotthardstraße 12
                        6460 Altdorf
Phone:                  +41 41 874 17 17
Fax:                    +41 41 874 17 07
E-mail:              ir@orascomdh.com
Internet:            www.orascomdh.com
ISIN:                   CH0038285679
Valor:                  A0NJ37
Listed:                 SIX

End of Announcement                             EQS Group News-Service



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