Suez Cement announces new chairman

Egypt’s Suez Cement Group has appointed Ambassador Yasser El-Naggar as the new chairman of the group, effective from 23 April. Mr El-Naggar has succeeded Hayrullah Hakan Gurdal in the role.

Mr El-Naggar has previously served as principal deputy minister of planning and was a member of the senior management overseeing the implementation of Egypt's 2030 Vision.

Elsewhere, the company has also announced plans to reduce the salaries of the managing director and members of the management committee by 30 per cent and 20 per cent, respectively, during the 2Q20.
Suez Cement also affirmed its commitment to reduce additional costs to protect its future and that of its parent company, HeidelbergCement, from the disruption caused by COVID-19.