Al Amoudi Fires CEO of MIDROC Ethiopia Dr. Arega Yirdaw

ADDIS ABABA – Billionaire Sheikh Mohammed H. Ali Al-Amoudi has fired Dr. Arega Yirdaw from his top position as Chief Executive Officer (CEO) of the MIDROC Ethiopia.

Al Amoudi informed Dr. Arega of his decision that he is relieved of his duty as of April 27, 2020, through a letter.

The letter sent to Dr. Arega alleges that he “is reluctant to make major decisions” and, that is creating constant disagreement with the owner of the company.

Dr. Arega has been the third powerful person in the MIDROC Technology Group management ladder.

The other two are the owner himself, Al-Amoudi, and his brother, Sheik Hassen Hussein Ali Al-Amoudi, Deputy Chairman and Owner.

Except for his position as head of Unity University, he is relieved of his duty as head of companies under Midroc Group as well as Midroc Technology Group, according to the letter.

The Billionaire has told Dr. Arega to handover any document and ongoing projects to Getachew Hagos.

Despite his release from jail at the end of Jan after nearly 15 months of detention, Al Amoudi is yet to visit Ethiopia.

Al Amoudi, born in Ethiopia and a Saudi citizen, was once considered one of the world’s richest people, with a net worth of as much as $15 billion, according to Forbes.

He was among hundreds of Saudi royals, businessmen and government officials rounded up in late 2017.

Image: Dr. Arega Yirday will continue to manage Unity University, which is owned by Al Amoudi. Photo File/Reporter

Share this