OCI Global Announces Leadership Changes

OCI Global Announces Leadership Changes as CEO Ahmed El-Hoshy Transitions to Fertiglobe

AMSTERDAM, Oct. 15, 2024 /PRNewswire/ — OCI Global (Euronext: OCI), a leading global producer and distributor of hydrogen products, announced that Ahmed El-Hoshy will step down as CEO of OCI after more than four years in the role. He will continue full-time as CEO of Fertiglobe, leading it through its next phase of growth.

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Hassan Badrawi, OCI's current Chief Financial Officer, will step in as the new CEO of OCI. Additionally, Beshoy Guirguis, the current Vice President of Global Growth and Transformation, and Chief Financial Officer of OCI US Nitrogen, will assume the role of Chief Financial Officer at OCI. These changes are effective immediately.

Nassef Sawiris, Executive Chairman of OCI, commented: "I want to express my appreciation for Ahmed's significant contribution over the last 15 years, for his leadership and dedication, and to wish him continued success in his onward journey with Fertiglobe."

OCI is now entering a new phase of development, with a refocus on investments and M&A. OCI has returned approximately USD 20 billion of capital to shareholders since 2000, equating to an approximate 40% IRR.

Looking ahead, OCI, as a listed vehicle, will continue to utilize its entrepreneurial and financial capital to create shareholder value. "I very much welcome Hassan's appointment as CEO," Sawiris added. "He is a 23-year OCI veteran who brings a wealth of directly relevant experience to this new stage of growth."

Ahmed El-Hoshy, Chief Executive Officer of OCI, remarked: "Over the past 15 years, I have witnessed OCI emerge as a global leader in fertilizers and chemicals."

He expressed gratitude to the Board, colleagues, and shareholders for their support, emphasizing how proud he is of the enduring value and goodwill OCI has created. "I am extremely proud of what we have built together," he said, and he looks forward to his continued leadership at Fertiglobe.

El-Hoshy has been instrumental in advancing OCI’s decarbonization growth across its global portfolio, focusing on the ammonia and methanol sectors.

Over the last year, he played a key role in successfully divesting several businesses, unlocking significant value for shareholders. He also led the growth of OCI’s US and European businesses, and was heavily involved in the creation and subsequent IPO of Fertiglobe in 2021.

Hassan Badrawi, in his role as Group Chief Financial Officer, has directed OCI’s M&A activities and led its financial and capital markets strategy. Since joining OCI in 2001, he has held leadership roles across Finance, Investor Relations, M&A, and Corporate Development. He has also served on the boards of both OCI Global and Fertiglobe.

Beshoy Guirguis currently serves as Vice President of Global Growth and Transformation and CFO of OCI’s US Nitrogen business. He has extensive experience in project development and financial management, playing a pivotal role in OCI's growth in North America. Guirguis previously served as CFO of OCI Americas and was part of the leadership team responsible for OCI’s build-out in North America.

¹ Includes the announced EUR 14.5 per share distribution and ~USD 2.4 billion of non-cash returns
² Management estimate

About OCI Global

Learn more about OCI Global at www.oci-global.com. You can also follow OCI on LinkedIn