Orascom Development Holding AG (ODH) announced that Chairman of its Board of Directors Mr. Samih Sawiris will step down, and will not stand for re-election, as Chairman at the next Annual General Meeting in Spring 2022. He is leaving ODH after more than 30 years at the helm. Samih Sawiris will remain actively involved in Andermatt Swiss Alps AG (ASA) as Chairman of its Board of Directors and as majority shareholder. The Board of Directors of ODH will propose Mr. Naguib Samih Sawiris for election as Chairman of the Board at the Annual General Meeting. Naguib Samih Sawiris has been a Member of the Board since 2016 and has served as Vice Chairman since 2020. Samih Sawiris will remain available as Advisor to the company. As part of the proposed succession plan, Naguib Samih Sawiris will also become ODH's majority shareholder and Samih will transfer control over to Naguib.