Egyptian billionaire Naguib Sawiris is leaving the chairmanship of Egyptian mobile operator ECMS, reports Reuters.

Alex Shalaby, now ceo of the company, which trades under the name Mobinil, will take over the chairmanship on Sept. 1. Replacing Shalaby as ceo of ECMS will be Hassan Kabbani, who has been running Algerian mobile operator Djezzy since 2003.

Shalaby told Reuters he would also replace Sawiris as chairman of Mobinil, a company which owns 51% of ECMS. However, Sawiris will remain on both boards, he added.

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