The Board of Directors at Colorado has made a significant decision to appoint Abed Chagar, to the position of President and CEO.
Abed Chagar’s Ascendancy
Abed Chagar, the incumbent Chief Executive Officer of Colorado, also holds the prestigious position of President at the Federation of Chemistry and Petrochemistry (FCP), a sector boasting a value of nearly 200 billion dirhams.
A Visionary Leader
A graduate of the Mohammadia School of Engineers, Abed Chagar’s journey with Colorado Group commenced in the year 2000. Prior to his tenure at Colorado, he kickstarted his career at Alcatel, now known as Nexans.
Initially appointed as the director of information systems and organization at Colorado. During that period, he played a pivotal role in the company’s modernization efforts as it underwent a transformation, being a small to medium-sized enterprise, through the overhaul of its information system.
The Strategic Transition
The appointment of Abed Chagar as President and CEO marks a pivotal moment for Colorado Corporation. With his extensive experience and visionary leadership, the company is poised to embark on a new phase of growth and innovation.
Driving Forces Behind the Decision
The decision to promote Abed Chagar underscores the company’s commitment to continuity and excellence. His proven track record in both leadership and industry advocacy positions him as the ideal candidate to lead Colorado into the future.
Colorado 2023 Annual Results
Colorado company has released its annual results for 2023, demonstrating robust performance amidst a challenging economic environment. The net income rose to 38.6 MDH, marking a 9.3% increase compared to 2022.
Stable Revenue and Increased Operating Income
The revenue remained steady at 611.4 MDH in 2023. The gross margin saw an uptick, contributing to an 8.6% rise in operating income to reach 64.9 MDH.
Effective Cost Management
Colorado’s strong performance can be attributed to effective operational cost management. The group’s net income stood at 35.4 MDH, up by 9.3%.
Dividend Proposal and Executive Appointment
The Board of Directors has proposed a dividend of 2.25 DH per share, marking a 12.5% increase from the previous year. The total dividend to be distributed amounts to 36 MDH.
