Modern Mills ends CEO contract by mutual agreement, appoints Ahmed Hegazy Acting CEO

Logo of Modern Mills for Food Products Co.

Modern Mills for Food Products Co. said its board approved on Feb. 22 the mutual termination of its contract with CEO Osama Ashi for health reasons, effective immediately, according to a statement on Tadawul.

The board appointed Ahmed Hegazy, Vice President of the Feed segment, as Acting CEO starting Feb. 23, 2026, until further notice.

Hegazy has served as Vice President of the Feed segment since joining Modern Mills in 2021. He previously held several leadership roles over a career spanning more than 25 years in Saudi Arabia and the UAE.

Hegazy holds an MBA from the UK's University of Leicester (2007) and a bachelor’s degree in agricultural sciences from Jordan University of Science and Technology (2000).