In a transformative series of decisions made during Marsa Maroc’s Ordinary and Extraordinary General Meetings held on Tuesday, June 25, 2024, several critical changes have been set in motion.
During the Extraordinary General Meeting, convened immediately after the Ordinary General Meetings, shareholders reviewed and approved the Executive Board’s proposal to overhaul the company’s management structure. Henceforth, Marsa Maroc will no longer operate under a Supervisory Board and Executive Board model but will instead be governed by a Board of Directors, as stated in the company’s official communiqué.
Additionally, it was decided to relocate the company’s headquarters from its current location to the new address: “Angle boulevard Route d’El Jadida et Rue les Papillons, Casablanca.”
Marsa Maroc to operate Nador West Med’s east container terminal
In a significant expansion move, Marsa Maroc has signed a concession agreement with Nador West Med to operate the East Container Terminal at Nador West Med, boasting a capacity of 3.4 million Twenty-Foot Equivalent Units (TEUs).
To reflect these modifications, the Extraordinary General Meeting adopted the company’s new statutes.
Governance overhaul and new appointments
Following the shift in governance model to a public limited company with a Board of Directors, the Ordinary General Meeting acknowledged the cessation of duties for members of the Supervisory Board and Executive Board. The following individuals were appointed to the new Board of Directors:
- Fouad BRINI: Director
- Tanger Med Dev Log: Director, represented by Mehdi TAZI RIFFI
- Mehdi TAZI RIFFI: Director
- Loubna GHALEB: Director
- Anouar EL JABBARI: Director
- Mustapha EL OUAFI: Independent Director
- National Agency for Strategic Management of State Holdings and Monitoring Public Enterprises’ Performance (ANGSPE): Director, represented by Khalid EL HATTAB
- Collective Pension Allocation Plan: Director, represented by Ouafae MRIOUAH
- Moroccan Pension Fund: Director, represented by Mohammed Jaber KHEMLICHI
- Wafa Assurance: Director, represented by Boubker JAÏ
At a subsequent meeting, the Board of Directors elected Fouad BRINI as Chairman of the Board and appointed Tarik EL AROUSSI as the General Manager of the company.
Moreover, the Ordinary General Meeting approved the financial statements for the fiscal year ending December 31, 2023, as presented by the Executive Board, and resolved to distribute a dividend of 8.5 dirhams per share, payable from August 7, 2024.
