Karachi: Arif Habib Limited has announced a significant change in its board of directors as part of its ongoing governance updates. According to a statement from the company, Mr. Syed Muhammad Manzoor Raza has resigned from his position as Director on the Board of Directors, effective May 26, 2025. This move comes as the company continues to navigate the financial landscape with strategic leadership changes.

In conjunction with Mr. Raza's resignation, the Board of Directors has approved the appointment of Mr. Alamgir A. Shaikh as his successor. This appointment is pending regulatory approvals, which are standard procedures in corporate governance transitions. The company aims to ensure a seamless transition and maintain its strategic objectives with the new leadership on board.

The developments have been closely monitored by stakeholders, given Arif Habib Limited's influence in the financial sector. The company has emphasized informing TRE Certificate Holders of the Exchange about these changes in leadership, highlighting the importance of transparency and accountability in its operations.

According to information available from the Pakistan Stock Exchange (PSX), this leadership change is part of broader corporate practices aimed at strengthening governance and aligning with regulatory expectations. The company, falling under the designated market category of financial services, continues to adjust its strategies to meet market demands and stakeholder expectations.

Arif Habib Limited, known for its financial services, is committed to updating its governance structure as needed to adapt to the dynamic market environment. The transition in board membership is expected to align with the company's long-term vision and goals.