Fintech PR

OCI Global Announces Leadership Changes

Published

19 hours ago

October 15, 2024

AMSTERDAM, Oct. 15, 2024 /PRNewswire/ — OCI Global (Euronext: OCI) (“OCI” or the “Company”) a leading global producer and distributor of hydrogen products today announced that Mr. Ahmed El-Hoshy has informed the Board that he will resign as CEO of OCI after more than four years in the role, and that he will continue as the CEO of Fertiglobe on a full-time basis, to lead it through its next phase of growth. Mr. Hassan Badrawi, OCI’s current Chief Financial Officer will assume responsibility as Chief Executive Officer of OCI. Mr. Beshoy Guirguis, OCI’s current Vice President of Global Growth and Transformation, and Chief Financial Officer of OCI US Nitrogen will assume the role of Chief Financial Officer of OCI. All changes will become effective immediately.

Nassef Sawiris, Executive Chairman of OCI commented: “I want to express my appreciation for Ahmed’s significant contribution over the last 15 years, for his leadership and dedication, and to wish him continued success in his onward journey with Fertiglobe. Looking to OCI’s future, we are entering a new development phase with a refocus on investments and M&A, facilitated by a multi-billion-dollar equity investment capacity (excluding incremental dividend distributions to be announced), an exceptional management team and a superior track record. Since 2000, OCI has returned approximately USD 20 billion of capital¹ to its shareholders, or an equivalent approximate 40% IRR². Going forward, OCI as a listed vehicle will continue to deploy its entrepreneurial, intellectual and financial capital in the same pursuit of creating shareholder value. I very much welcome Hassan’s appointment as CEO, a 23-year OCI veteran who brings with him a wealth of directly relevant experience to this new stage of growth in his prior capacity as CFO and Head of M&A having been responsible for OCI’s recent strategic review, its successful outcome and having overseen our USD 15 billion cement exit in 2008. I am very confident that under Hassan’s leadership, OCI will continue to create long-term value for our shareholders, advancing an extraordinary legacy and track record to date.”

Ahmed El-Hoshy, Chief Executive Officer of OCI commented: “Over the past 15 years, I have witnessed OCI emerge as a global leader in fertilizers and chemicals. I am honored to have been a part of this incredible journey and to have contributed to OCI’s success on behalf of all our stakeholders. It has been a privilege to lead OCI and I am extremely proud of what we have built together, and of the enduring value and goodwill that has been created. I am grateful to my colleagues, to the Board and to all our shareholders for their unwavering commitment and support over the years. I look forward to the next chapter with Fertiglobe and am certain that OCI is poised for continued success.”

In his Chief Executive role, Mr. El-Hoshy has led the Company’s strategy to prioritize value accretive decarbonization growth across its global portfolio to become an industry leader in the ammonia and methanol sectors. Over the last year, Mr. El-Hoshy has played an integral role in the successful divestment of several business to strategic buyers to unlock significant value for shareholders. Previously, Mr. El-Hoshy led the growth of OCI’s US and European businesses, as well as being heavily involved in the creation and subsequent initial public offering of Fertiglobe in 2021. Since joining OCI in 2009, Mr. El-Hoshy has held several positions across the Group including Global Chief Operating Officer, Chief Executive Officer of OCI Americas, and Director of Business Development and Investments.

In his capacity as Group Chief Financial Officer reporting into the Executive Chair and the Board of Directors, Mr. Badrawi has been instrumental in directing OCI’s M&A activities, in leading OCI’s financial and capital markets strategy, and in assuming responsibility for the Finance, Investor Relations and Communications functions. Since joining OCI in 2001, Mr. Badrawi has held various leadership positions across Finance, Investor Relations, M&A, Corporate and Business Development, Strategy and Project Management. Mr. Badrawi also served on the Board of OCI Global and Fertiglobe.

Mr. Guirguis currently serves as Vice President of Global Growth and Transformation, and Chief Financial Officer of OCI’s US Nitrogen business. Previously, Mr. Guirguis was Chief Financial Officer of OCI Americas, including OCI Partners prior to its delisting. Since late 2011, Mr Guirguis has been a key part of the leadership team responsible for OCI’s growth and build out in North America, undertaking various roles including project development and financial management, and has extensive experience in the financial, industrial, and petrochemical industries.

¹ Includes the announced EUR 14.5 per share distribution and ~USD 2.4 billion of non-cash returns
² Management estimate

About OCI Global

Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn.

Contact Details

Advertisement

Sarah Rajani CFA, Global Vice President Investor Relations and Communications
Email: [email protected]

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Fintech PR

Hastee reaches profitability as Earned Wage Access solutions become the norm for top employers

Published

6 mins ago

October 16, 2024

CISION (PR Newswire)

hastee-reaches-profitability-as-earned-wage-access-solutions-become-the-norm-for-top-employers

LONDON, Oct. 16, 2024 /PRNewswire/ — Hastee, one of Europe’s leading providers of earned wage access (EWA) and financial wellbeing solutions, is proud to announce that it has reached profitability. This marks a significant milestone in its journey to empower employees with greater financial flexibility and control. The achievement comes amid rising demand for on-demand pay solutions, with destination employers now frequently citing these as a necessary benefit to attract, retain, and engage staff.

Founded with a mission to improve the financial resilience of workers, Hastee has grown rapidly since its launch and now has over 350 employer clients spanning nearly all sectors. Notable customers include global leaders in hospitality (such as McDonald’s, Domino’s and Taco Bell), top international retailers (such as IKEA, Mediamarkt and DIA), major healthcare organisations (such as Bupa and the NHS), and many more of the world’s leading employers (such as Unilever, PayPal, Iberia Express and EY).

Hastee operates in 4 of the 5 largest European markets for earned wage access: UK, Spain, Ireland, and Portugal. In 2020, Hastee acquired Typs, one of Southern Europe’s leading financial wellbeing solutions, enabling Hastee to build a unique multi-language, multi-currency, and flexible platform ready for further international scaling. Hastee is majority-owned by IDC, a multi-fund platform with $2.2B AUM, through its innovation vertical IDC Ventures.

Hastee’s solution is built on 3 pillars of financial wellbeing: Earn, Learn, and Grow. Employees can use the award-winning Hastee app to track their earnings, access earned pay flexibly, receive personalized bite-sized financial education and save directly from their payroll. The app is one of the most popular financial wellbeing apps in the Apple App Store and Google Play Store, with a user rating of 4.7 in each.

“We are extremely proud to be among the very first EWA providers globally to reach profitability,” commented Hastee CEO Jaime Jimenez. “The combination of rapid growth of our customer base alongside a cautious approach to spending has paid off: we have built a highly sustainable business that can service its clients without the need for further external funding.”

Jimenez continued: “Financial wellbeing has risen to the very top of the agenda among HR leaders, and we are honoured to have a role to play in supporting employees improve their financial health, while also helping our clients reach their ambitious ESG targets.”

“We are thrilled to support Hastee in reaching this pivotal moment,” shared Alejandro Rodriguez, co-founder and Managing Partner at IDC Ventures. “Hastee’s focus on financial wellbeing aligns perfectly with IDC Ventures’ mission of backing impactful companies that make a positive difference. We’re excited to be part of this journey, providing real value to both the end users and our partners. This achievement reflects the strength of Hastee’s model and the growing importance of solutions that empower individuals to take control of their financial health.”

About Hastee
Hastee is a financial wellness platform that allows employees to access a portion of their earned wages before payday, helping them manage cash flow and avoid debt. The platform integrates with employers’ payroll systems and provides users with flexible, on-demand access to their earnings. Hastee currently has over 350 employer clients spanning nearly all sectors. Learn more by visiting Hastee.com.

About IDC Ventures
IDC Ventures (IDCV) is a venture capital platform within IDC Network, a global multi-fund asset manager. Serving as the Partner of Choice for over 150 family offices across 30 countries, IDCV offers a diverse range of venture capital opportunities including proprietary funds, co-investments, and co-managed funds in collaboration with industry-leading managers. With $500M in assets under management, IDCV typically leads funding rounds and holds board seats, offering founders guidance drawn from deep expertise in entrepreneurship, banking, law, and consulting. Since its inception in 2019, IDCV has backed transformative founders from Series A to growth stages, with a primary focus on fintech and marketplaces in Europe, the US, and Latin America—particularly Brazil and Mexico. For more information, visit IDCVentures.com.

Media Contact:
Ernesto Bernado
[email protected]

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View original content:https://www.prnewswire.co.uk/news-releases/hastee-reaches-profitability-as-earned-wage-access-solutions-become-the-norm-for-top-employers-302277028.html

Fintech PR

Akastor ASA: Invitation to Presentation of Third Quarter 2024 Results

Published

1 hour ago

October 16, 2024

CISION (PR Newswire)

OSLO, Norway, Oct. 16, 2024 /PRNewswire/ — Akastor ASA invites investors and analysts to a webcast presentation of the third quarter 2024 financial results on Wednesday, 30 October 2024.

Date and time:
Wednesday, 30 October 2024, at 15:00 CET

Presenters:

Akastor: Karl Erik Kjelstad, CEO, and Øyvind Paaske, CFO

HMH: Thomas McGee, CFO, and David Bratton, SVP FP&A and Operational Finance

Link to webcast:
https://akercreativehub.eventcdn.net/events/akastor-audiocast-q3-2024

Questions can be submitted throughout the streaming event. The presentation material will be published on www.akastor.com and www.newsweb.no at 07:00 CET on 30 October.

For further information, please contact:

Øyvind Paaske
Chief Financial Officer
Mob: +47 917 59 705
E-mail: [email protected]

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/akastor-asa/r/akastor-asa–invitation-to-presentation-of-third-quarter-2024-results,c4051353

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Fintech PR

Greenbrook appoints Lord Hill and David Trenchard as Advisors

Published

1 hour ago

October 16, 2024

CISION (PR Newswire)

LONDON, Oct. 16, 2024 /PRNewswire/ — Greenbrook, the specialist communications advisor, is pleased to announce the appointment of former European Commissioner and Lead non-exec director at HM Treasury, Lord Hill, and the return of the City advisor, David Trenchard, as advisors to the firm.

Lord Hill is the former European Commissioner for Financial Stability, Financial Services and Capital Markets Union. He was Leader of the House of Lords and Chancellor of the Dutchy of Lancaster from 2013 to 2014. He has been Lead non-executive director at HM Treasury and is Chairman of the Ditchley Foundation. He carried out the UK Listings Review for the then Chancellor of the Exchequer in 2021.

David Trenchard, who was an advisor to Greenbrook from 2014 to 2022, brings over four decades of experience in finance. Most recently, he was Engagement Director at Elliott Advisors. David began his career at Morgan Stanley, rising to become a Managing Director in Equity Capital Markets and Head of Corporate Broking.

Andrew Honnor, Managing Partner of Greenbrook, commented: “We are delighted to welcome both Jonathan and David to our team. Their considerable experience across policy, markets and finance will provide deep insight to our clients as they navigate the evolving challenges and opportunities in the current macro-economic environment.”

Lord Hill commented: “I’ve known Andrew for two decades, and have looked with admiration at what he has achieved at Greenbrook. I look forward to joining his team and hope I can add something to the firm’s growing success.”

David Trenchard commented: “It is a pleasure to return as an advisor to Greenbrook, a leader in complex communications issues. I look forward to working with Greenbrook’s clients across various situations.”

Lord Hill and David Trenchard join Michelle Pinggera, Simon Walker and Piers Dennison as advisors to Greenbrook. Michelle joined Greenbrook in July 2018 and is the former International Chief of Staff and Partner at Goldman Sachs. Simon joined Greenbrook in March 2017 and was previously Director General of the Institute of Directors, Communications Secretary to HM Queen Elizabeth II, advisor to former Prime Minister John Major, and Chief Executive of the British Private Equity & Venture Capital Association. Piers joined Greenbrook in July 2021 and is a former Partner and Head of Investor Relations at Park Square Capital.

Contact details:

Ksenia Galouchko / Demi Kurban
Greenbrook
+44 20 7952 2000 / [email protected]

About Greenbrook:

Greenbrook provides strategic communications advisory services to the investment industry. We work with clients across the following asset classes: private equity, venture capital, private debt, hedge funds, activist funds, infrastructure and real estate, and traditional fund management.

We advise our clients on all aspects of their business through the lens of reputation, helping to build and protect value.

Greenbrook has advised on over $58 billion of corporate and sovereign debt restructurings over the last 12 months. Greenbrook was ranked by Bloomberg as the #1 advisor in Europe for engaged shareholder communications in 2023. The firm ranked among the top #5 in Europe by Mergermarket and the #1 PR and communications firm in Europe by Private Equity Wire.

For more information, please visit www.greenbrookadvisory.com or follow Greenbrook on LinkedIn.

View original content:https://www.prnewswire.co.uk/news-releases/greenbrook-appoints-lord-hill-and-david-trenchard-as-advisors-302276721.html