Cairo, 27 July 2016
The Board of Directors of Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFIDq.L on the London Stock Exchange), a leader in the Egyptian packaged snack food market with dominating market shares in its core cake and croissant segments, accepted with regret yesterday the resignation of Vice President (Finance) and Chief Financial Officer Sherif Fathy.
Fathy joined Edita in 2007 and has been a key player in the company’s transformation from a large family business into a publicly traded corporation with international ambitions.
Commenting on Fathy’s departure, Edita Chairman and Managing Director Eng. Hani Berzi said: “It is with deep regret that the Board and I have accepted Sherif’s resignation. He has not just been a key member of our executive team for nearly a decade, he is a good friend and trusted confidant. I am very grateful that he has agreed to work closely with me and with the executive team as part of our ongoing search process, which began some time ago when Sherif first let us know of his need to depart. We look forward to announcing the engagement of a new chief financial officer in the coming period, and I am pleased Sherif’s successor will have benefit of his experience and wise counsel during the transition period.”
Sherif Fathy, outgoing Vice President (Finance) and Chief Financial Officer added: “Working with Hani and the team at Edita has been the highlight of the more than three decades I have spent in the finance and auditing industries. Edita is a great place to work, and it has been an honor to have been a part of the company’s growth story. My departure owes entirely to my desire to spend more time with family, a fact that means relocating outside Egypt. I look forward to assisting Hani and the team as we settle-in a world-class successor.”
Fathy has 34 years of professional experience in finance and auditing roles, including time spent with brand names including PricewaterhouseCoopers, Bristol Myers Squibb, Sanofi Aventis, Pfizer.