Egypt Resorts Company (ERC) has announced that Mohamed Kamel, CEO, would step down effective 30 June, to return to his family business, KATO Investment. Wael El-Hatow will replace Kamel as the company’s new CEO. El-Hatow is a private equity veteran whose previous roles included CIO/Executive Director at Al-Ahly Capital. Hatow had presented Al-Ahly Capital interests on ERC’s board since 2010. (Company disclosure) Egyptian Resorts: EGP0.82 as of 01 June 2016, Rating: Neutral, FV: EGP0.87 per share, MCap: USD97 million, EGTS EY / EGTS.CA
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