Orascom Development Holding (Sawiris)
Orascom holt sich einen spezialisten für's real estate geschäft.
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Orascom Development appoints Gerhard Niesslein as new CEO of the Group.
Samih Sawiris remains Executive Chairman focusing on the firm's strategic
development.
Orascom Development strengthens its organisation with a change in top
management. The experienced real estate specialist and top manager Gerhard
Niesslein will become CEO in charge of the operational management of the
Group, which has grown substantially in recent years. In future, the
company's founder Samih Sawiris will focus on the firm's strategic
positioning and development. These changes will become effective at the
latest as of 1 November 2011.
Altdorf/Cairo - 15 July 2011 - Orascom Development Holding AG (Orascom
Development) has grown substantially in recent years, has diversified its
activities into nine countries and employs more than 17,000 people in the
meantime. In order to both reflect this broader presence and separate the
activities of the management team and the Board of Directors the company's
management will be strengthened. Gerhard Niesslein will be appointed as the
CEO of the Group at the latest as of 1 November 2011. In this position, he
will lead the day-to-day business of the Group and its subsidiaries.
Company founder and majority shareholder Samih Sawiris will focus on
strategic topics and will be actively involved in the future development of
the company. Amr Sheta will support Gerhard Niesslein as Co-CEO focusing on
Egypt. He will remain a member of the Board of Directors, but terminate his
function as Vice-Chairman.
Gerhard Niesslein (58, Austrian-Canadien citizen) is a well experienced,
broadly networked real estate expert. He served in leading positions at
various companies in Canada and Germany during the last 35 years. After
real estate related positions at e.g. Deutsche Bank and Commerzbank he
became a member of the Board of Landesbank Hessen-Thüringen (Helaba)
responsible for real estate financings, investments and funds. In
1999, he became CEO of DETE Immobilien GmbH (the real estate business of
Deutsche Telekom). And since 2008, he is CEO of IVG Immobilien AG, Bonn,
one of the big real estate companies in Europe with assets under management
of approx. EUR 22 billion. Gerhard Niesslein studied law at the University
of Vienna and earned a doctorate in 1977.
Samih Sawiris said: 'I am pleased that Gerhard Niesslein, a very senior
manager and established expert in the real estate business, joins Orascom
Development. His appointment allows me to focus on the strategic
development of the company while the operational activities of Orascom
Development will be headed by an experienced specialist.'