Orascom Construction, a leading global engineering and construction contractor in the Middle East region, has appointed Reham ElBeltagy as the group's new chief financial officer (CFO) effective April 1.

She succeeds Mark Littel, who is stepping down after taking over as Group CFO in September 2014.

ElBeltagy joined the company in 2006 and has since then held a number of senior roles in corporate treasury and is currently the group treasurer. Prior to this, she was part of the debt capital markets team at Commercial International Bank in Egypt.

ElBeltagy holds a BA in Accounting and Finance from the American University in Cairo.

On the appointment, CEO Osama Bishai said: "ElBeltagy has been with the company for 13 years and has demonstrated multiple achievements across a range of functions such as corporate treasury, project finance and EPC (engineering, procurement and construction) and finance in several sectors including building materials, cement, fertilizers and infrastructure concessions."

She has also been working in transition with Littel and the Group CFO team over the past few months," he stated.

He also commended Littel for his leading role in driving major transformation at Orascom Construction and "his invaluable contribution throughout his time at the company."

Littel will remain an advisor to the company until the year-end, he added.

In her new role, ElBeltagy will be supported by the group’s regional finance teams led by Omar Bebars and Jeremy Marron.

Bebars is the CFO of the Middle East and Africa region and joined the company in 2009, while  Marron is the CFO of the US region who joined The Weitz Company (which was later acquired by the Group in 2012) in 2005.-TradeArabia News Service