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Masri oppose the HCS new rulings
Published in FilGoal on 07 - 04 - 2008

Masri have expressed a partial disagreement with the new HCS rulings announced by President Hassan Saqr on Sunday.
"There are some weak points in the new rulings especially the elimination of the vice-president and the treasurer positions and the way of their nomination," Masri vice-president Ali Farag told FilGoal.com.
"The treasurer must be elected to be loyal to the board and the General Assembly that elected him and not to the one who nominated him. And also the vice-president position is very important and it must go for the most represented member among the board and not the oldest as it will be," added Farag.
However he agreed on the proposition of making a 50% cut of the annual fees for the General Assembly members who attend the meetings.
The new rulings have been at the center of controversy lately because of the new changes that will affect the composition of the boards.
Egyptians giants Ahli have strongly opposed the HCS's new proposals but failed to convince Saqr.


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