ADDIS ABABA – Ethiopian-born Saud Billionaire Sheikh Mohammed al Amoudi has picked Abnet Gebremeskel as Chief Executive Officer (CEO) of the MIDROC Ethiopia.
Abnet replaced the vacant position left after the Billionaire fired Dr. Arega Yirdaw from the position on April 27, 2020.
The company officials have been discussing the reorganization of the company, MIDROC said in a statement sent to The Monitor.
It says the company’s owner Sheikh Mohammed has been designing and studying a new structure for the past several weeks and has unveiled the new structure.
Accordingly, Abnet has been appointed as chief executive officer of MIDROC Ethiopia.
Apart from the company, Abnet is assigned to head Al-Amoudi’s major companies engaged in construction, hotel, and real estate sectors.
He will also continue to manage the pharmaceutical industry.
The new reorganization also saw Jamal Ahmed become as head of the manufacturing, mining, trade, agriculture and agro-processing sectors.
The billionaire also decided for Haile Asgegde to continue to head MIDROC Cement factory, while his previous decision lets Dr. Arega keep his job as president of Unity University.
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 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.