FORAFRIC GLOBAL Announces Leadership Transition: New Chairman of the Board Appointed
Forafric Global (Nasdaq: AFRI), a leading vertically integrated agribusiness serving Africa, announced a leadership transition with the appointment of CEO Khalid Assari as Chairman of the Board, effective April 4th, 2025. Assari, who replaces Saad Bendidi, brings experience from senior positions at Caisse de Dépôts (CDG Group) and holds an MBA in finance from Old Dominion University.
Forafric Global (Nasdaq: AFRI), un'importante azienda agricola integrata verticalmente che serve l'Africa, ha annunciato un cambiamento nella leadership con la nomina del CEO Khalid Assari come Presidente del Consiglio di Amministrazione, a partire dal 4 aprile 2025. Assari, che sostituisce Saad Bendidi, porta con sé un'esperienza da posizioni senior presso la Caisse de Dépôts (Gruppo CDG) e possiede un MBA in finanza presso l'Old Dominion University.
Forafric Global (Nasdaq: AFRI), una destacada empresa agrícola integrada verticalmente que sirve a África, anunció una transición en el liderazgo con el nombramiento del CEO Khalid Assari como Presidente de la Junta, a partir del 4 de abril de 2025. Assari, quien reemplaza a Saad Bendidi, aporta experiencia de puestos senior en la Caisse de Dépôts (Grupo CDG) y tiene un MBA en finanzas de la Old Dominion University.
Forafric Global (Nasdaq: AFRI)는 아프리카에 서비스를 제공하는 주요 수직 통합 농업 기업으로, 2025년 4월 4일부터 CEO Khalid Assari를 이사회 의장으로 임명하며 리더십 전환을 발표했습니다. Assari는 Saad Bendidi를 대체하며, Caisse de Dépôts (CDG 그룹)에서의 고위직 경험을 가지고 있으며, Old Dominion University에서 금융 MBA를 취득했습니다.
Forafric Global (Nasdaq: AFRI), une entreprise agricole intégrée verticalement de premier plan au service de l'Afrique, a annoncé une transition de leadership avec la nomination du PDG Khalid Assari en tant que Président du Conseil d'Administration, à compter du 4 avril 2025. Assari, qui remplace Saad Bendidi, apporte une expérience acquise dans des postes de direction à la Caisse de Dépôts (Groupe CDG) et détient un MBA en finance de l'Old Dominion University.
Forafric Global (Nasdaq: AFRI), ein führendes vertikal integriertes Agrarunternehmen, das Afrika bedient, gab einen Führungswechsel mit der Ernennung von CEO Khalid Assari zum Vorsitzenden des Vorstands bekannt, der am 4. April 2025 in Kraft tritt. Assari, der Saad Bendidi ersetzt, bringt Erfahrung aus leitenden Positionen bei der Caisse de Dépôts (CDG-Gruppe) mit und hat einen MBA in Finanzen von der Old Dominion University.
- CEO taking on additional role as Chairman indicates strong leadership continuity
- New Chairman brings relevant agricultural business experience
- Concentration of power with CEO assuming Chairman role may raise corporate governance concerns
CASABLANCA, MOROCCO, April 04, 2025 (GLOBE NEWSWIRE) -- Forafric Global (Nasdaq: AFRI, or the « Company »), a leading vertically integrated agribusiness serving Africa, today announced that Khalid Assari, the CEO of the Company, has been appointed as Chairman of the Board, effective April 4th, 2025. Mr. Assari replaces Mr Saad Bendidi.
Mr. Assari has had a long and successful career in agricultural business, holding several senior positions within Caisse de Dépôts (CDG Group). Mr. Assari holds an MBA in finance from Old Dominion University in Norfolk, Virginia, United States.
“I am honored to take on the role of Chairman and look forward to working closely with the Board and leadership team to advance Forafric Global’s mission and strategic goals,” said Mr. Assari.
About Forafric
Forafric is a leading agribusiness player in Africa with activities in Morocco and Sub-Saharan Africa. It is a milling industry leader with a complete range of flour and semolina, and secondary processing products such as pasta and couscous. The Group operates 12 industrial units, and 2 logistics platforms. Forafric exports its products to more than 45 countries around the world. Forafric intends to continue expanding in Morocco.
Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our ability to obtain quality raw materials; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval for our materials and products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 20-F. Investors are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Contact Information:
info@forafric.com
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