ArabFinance: Juhayna for Food Industries board of directors accepted the resignation of Safwan Thabet as a member of the board of directors, according to the company statement filed to the Egyptian Exchange.

The board also approved the appointment of Ahmed El-Wakil as an independent, non-executive board member.

The company earlier confirmed that Thabet continues to be its CEO and deputy chairman despite his detention, which is still pending an investigation.

The dairy products and juices producer posted a consolidated net profit of EGP 383,667,982 in January-September 2020, compared to EGP 290,905,796 achieved in the prior-year period.

Juhayna, founded in 1983, is an Egypt-based manufacturer specialized in the production, processing, and packaging of dairy, juice, and cooking products.

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