Amine Mazouzi becomes fifth chief executive in as many years at Algerian oil major
Algerias state-owned oil major Sonatrach has appointed Amine Mazouzi as chief executive, replacing Said Sahnoun who was serving as interim CEO of Africas largest company.
Media reports in Algeria state that Mazouzi was the former head of production development and has been told to increase foreign direct investment in the countrys hydrocarbons industry.
The official becomes Sonatrachs fifth CEO in as many years and is the son of a respected war of independence veteran. Sonatrach has suffered from a lack of foreign investment over the last five years as changes in ownership rules as well as a corruption scandal involving a former CEO has put many companies off.