Egypt Gas Company has announced a significant restructuring of its board of directors, marking a major leadership change within the state-affiliated energy firm.
The company confirmed that Wael Ahmed Gowaid, previously serving as Chairman and Managing Director, has been removed from his position.
In his place, Mohamed Hassan Kandil, an experienced executive and Deputy Executive Managing Director at the Egyptian Natural Gas Holding Company (EGAS), has been appointed to join the board of Egypt Gas as the EGAS representative.
Kandil has also been tasked with assuming the responsibilities of Chairman of the Board and Managing Director of the company.
The announcement was made in an official disclosure to the Egyptian Stock Exchange, underlining the company’s strategic intent to strengthen governance and oversight at a crucial time for Egypt’s energy sector.
This leadership change comes as Egypt Gas reported robust financial performance for the first half of 2025.
The company recorded a net profit of EGP 209.18 million, up from EGP 167.62 million during the same period last year. Revenues also rose to EGP 3.6 billion, compared with EGP 3.01 billion in the first half of 2024.
Industry analysts noted that the board restructuring and the appointment of a seasoned EGAS executive could signal a renewed focus on operational efficiency and strategic alignment with Egypt’s broader energy objectives.
The Egyptian government has been keen to ensure stability and growth in its natural gas sector, which plays a pivotal role in domestic energy supply and regional exports.
The company’s statement did not provide specific reasons for the departure of Gowaid but emphasized that the new leadership would continue efforts to enhance Egypt Gas’s operational performance and profitability.
As Egypt Gas enters this new phase under Kandil’s stewardship, stakeholders will be watching closely to see how the board’s reconstitution affects the company’s strategic projects, investment plans, and its role in Egypt’s growing energy market.
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