CIB Reappoints Hisham Ezz El-Arab As CEO For Three-Year Term

(MENAFN- Daily News Egypt) The Ordinary General Assembly of Commercial International Bank (CIB) has approved the continuation of Hisham Ezz El-Arab as the bank's Chief Executive Officer for a new three-year term, running from March 2026 until March 2029.

The assembly also approved the formation of the Board of Directors for the new term, chaired by Nevine Sabbour as Non-Executive Chair. Board members include Fadel Abdel Baki and Aziz Moolji, both representing Alpha Oryx Limited, alongside Hoda Mansour El-Asqalani and Jawaid Ahmed Mirza as non-executive members with extensive expertise.

The board further includes independent non-executive members Burkhard Eckes, Georgios Anagnostopoulos, and Tanvi Prabhu Chandrasekhar, alongside Amr El-Ganainy as Deputy CEO and Islam Zekry as Group Chief Financial and Operations Officer.

In addition, the assembly approved an increase in CIB's issued and paid-up capital from EGP 33.779bn to EGP 34.051bn, an increase of EGP 272.03m. The increase will be distributed over 27.203 million shares with a nominal value of EGP 10 per share, allocated for the seventeenth tranche of the bank's employee and management incentive and reward programme through a promise-to-sell mechanism.

The assembly also approved amendments to Articles Six and Seven of the bank's Articles of Association to reflect the capital increase, subject to the approval of the Central Bank of Egypt.

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