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Orascom board nominates new non-executive director

The board of directors at Egypt-headquartered contractor, Orascom, has nominated Mustafa Abdel-Wadood as non-executive director

Orascom Construction’s board of directors has nominated Mustafa Abdel-Wadood for the position of non-executive director.

Shareholders will be asked to confirm Abdel-Wadood’s appointment during the Egypt-headquartered contractor’s annual general meeting (AGM) on 23 May, 2017.

Abdel-Wadood will replace Arif Naqvi, who intends to step down from his role as Orascom’s non-executive director following the AGM.

If confirmed, Abdel-Wadood’s appointment will take effect on 1 June, 2017.

Abdel-Wadood is managing partner and global head of private equity at The Abraaj Group, a growth-market investor currently managing in the region of $10bn in assets. He is an executive board member of the group, a member of its global investment committee, and a member of its management executive committee.

Before joining The Abraaj Group, Abdel-Wadood was the UAE chief executive officer for EFG Hermes. Previously, he fulfilled the role of head of investment banking at the same company.

Abdel-Wadood also co-founded Sigma Capital, where he served as managing director. Earlier in his career, he spent eight years at Orascom Group as director of development and investments, and was a founding board member of Orascom Telecom.

In 2002, the World Economic Forum (WEF) named Abdel-Wadood a Global Leader for Tomorrow and, in 2007, named him a Young Global Leader.

Abdel-Wadood is also a member of the Young Presidents’ Organization (YPO). He graduated from American University Washington DC (AU) with a degree in business administration, and holds an MBA from Georgetown University.

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