Sixth of October for Development and Investment Company S.A.E. announced that its board of directors has accepted Mr. Maher Maksoud's resignation as its Managing Director and Vice Chairman of the BOD to peruse other opportunities effective from March 31, 2013. The BOD has appointed Mr. Ahmed Badrawi, SODIC's Chief Business Development Officer, as the next Managing Director. Badrawi has worked closely with Maksoud over the past 7 years to build SODIC and has been on the BOD since 2006.