25 November 2019

OCI N.V. Announces Appointment Of Group Chief Operating Officer

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OCI N.V. (Euronext: OCI) today announced that Ahmed El-Hoshy has been appointed as Group Chief Operating Officer (COO) with immediate effect, reporting to OCI N.V.’s CEO Nassef Sawiris. In this new global role, Ahmed will oversee all commercial, operational and other business activities.

Mr. El-Hoshy has been with OCI N.V. for ten years, and is currently the CEO of OCI Americas, heading all investments, operations and activities in the Americas, and is expanding those responsibilities to Europe. Since 2011, he has overseen OCI’s expansion into North America from no production assets to the current 5.5+ million tons of nitrogen and methanol capacity, representing over $6 billion in replacement value. During this time, he led the development of the group’s largest greenfield projects from inception, including Iowa Fertilizer Company, and has been responsible for a wide variety of activities including project development, financing, M&A, corporate strategy and general management. He was also CEO of OCI Partners LP, a subsidiary of OCI NV, as a listed company on the NYSE. As part of his commercial oversight role, he was instrumental in creating the N-7 joint venture with Dakota Gasification Company and growing the Diesel Exhaust Fluid (DEF) business.

Ahmed began his career at Goldman Sachs as a member of the investment banking and special situations groups in New York and Dubai. He received his bachelor’s degree in economics with honors from Harvard College.

Nassef Sawiris, CEO of OCI N.V. commented: “I am pleased that Ahmed will take on this new and critical role in the organization, following his success in leading OCI’s expansion into the Americas. Ahmed is a strong and dynamic leader with a proven track record and extensive familiarity with all aspects of OCI’s global businesses. With this appointment, jointly with our earlier appointment of Haroon Rahmathulla as COO for our new Fertiglobe joint venture, we are well-positioned to focus on operational and commercial excellence across our platform, in order to deliver on our growth and free cash flow generation. This comes at an important inflection point for the company now that we have completed our capex expansion program.”

“OCI has grown to become a top five global player in both the nitrogen fertilizers and methanol sectors within a very short time frame,” said El-Hoshy. “The opportunity to help steer OCI towards our next phase of growth and optimization is extremely compelling and I look forward to working with the whole team to make this a success.”

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