Algeria/Brief: CEO of Sonatrach fired

Posted On 23 April 2019

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Abdelmoumen Ould Kaddour, the Chief Executive of Sonatrach has just been fired. Interim president of the Algerian government dimissed him and replaced him with Rachid Hachichi.

Ould Kaddour saw his support system completely crumble and has long been in the chopping block.  In addition to his strong ties to top regime officials, Ould Kaddour is criticized for his management style, which did not earn him many friends within Sonatrach, which has been facing massive financial performance problems, which accelerated in the fourth quarter of 2018.

Ould Kaddour’s dismissal does not bode well for the man. It is likely the first step of what may be more legal trouble for an executive who has already had some bad history with the law. We excpect the legal system to go after him under the umbrella of a wa against corruption.

His replacement, Rachid Hachichi has been head of Sonatrch’s production division in the Department of Eploration-Production since 2017.

More to come.

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The North Africa Journal is a leading English-language publication focused on North Africa. The Journal covers primarily the Maghreb region and expands its general coverage to the Sahel, Egypt, and beyond, when events in those regions affect the broader North Africa geography. The Journal does not have any affiliation with any institution and has been independent since its founding in 1996. Our position is to always bring our best analysis of events affecting the region, and remain as neutral as humanly possible. Our coverage is not limited to one single topic, but ranges from economic and political affairs, to security, defense, social and environmental issues. We rely on our full staff analysts and editors to bring you best-in-class analysis. We also work with sister company MEA Risk LLC, to leverage the presence on the ground of a solid network of contributors and experts. Information on MEA Risk can be found at www.MEA-Risk.com.

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