CAIRO: Egypt appointed a new chairman for its stock exchange Wednesday, with Mohamed Abdel Gawad Omran replacing Mohamed Abdel Salam.
A Cabinet decision to appoint Omran, who was previously deputy chairman under Maged Shawky from 2006 to 2010, came out unexpectedly early in the day.
A source at the exchange confirmed the news, although it has not yet been officially announced.
Abdel Salam has been acting head of the Egyptian bourse since it reopened for trading in late March, after an almost two-month closure during the January-February uprising.
When first appointed, Abdel Salam was tasked with overseeing the stock exchange for six months.
Egypt’s benchmark EGX 30 index was down 0.68 percent on Wednesday at 4,433 points.
