After several weeks of rethinking, MIDROC Ethiopia introduced restructured management. Abenet Gebremeskel named CEO
June 17, 2020
In late April 2020, Ethiopian-born Saudi Billionaire, Mohammed Al Amoudi, who is said to be not allowed to leave Saudi Arabia after release from prison, announced that he has accepted the resignation of MIDROC Ethiopia CEO, Arega Yirdaw. Back then, Getachew Hagos was appointed as an acting CEO.
As it turns out, the company has been undertaking what seems to be a major restructuring of the management of MIDROC Technology groups which has billions of dollars worth investments in a range of sectors in Ethiopia.
According to FBC which cited the state media Ethiopian News Agency (ENA), Mohammed Al Amoudi has appointed Abnet Gebremeskel as CEO of MIDROC Ethiopia after several weeks of rethinking and restructuring of the management for investments in Ethiopia.
Abenet will also be managing investments in the Construction, Hotel, Real Estate, and Pharmaceutical sectors.
Jemal Ahmed is also appointed as CEO in the manufacturing, Mining, agro-business (including agro-processing). Al Amoudi also appointed Ato Haile Assegde as the CEO of the Derba Cement factory.
A meeting at Sheraton Addis on Wednesday briefed the management team regarding the changes. Mohammed Al Amoudi called on his new management team “to work hard as usual for the development of Ethiopia.”
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