Cairo – Mubasher: The board of directors of Amer Group Holding Co approved the appointment of Riyad Mohamed Refaat Mohamed as the company’s CEO and Managing Director.

The board also appointed Alaa El-Din Lotfy and Monir Abdel Wahab El-Zahed as Independent Board Members, succeeding Mohamed Sayed Mohamed and Ahmed Galal Fayek, the company said in a bourse disclosure on Sunday.

During 2020, Amer Group recorded net profits of EGP 25.51 million, down from EGP 56.4 million a year earlier, including minority shareholders’ rights.