Karachi: AKD Hospitality Limited (AKDHL) has successfully navigated the fiscal year ending June 30, 2024, under the effective leadership of its Board of Directors, according to its latest Chairman’s Review. The Board's diligence has been pivotal in steering the company towards its goals, reflected in their comprehensive Annual Report alongside the Auditors’ Report.

The composition of the Board, boasting a diverse range of experienced professionals from finance, audit, business, and banking sectors, has been crucial in maintaining high governance standards and aligning with the Code of Corporate Governance. Throughout the year, the Board has engaged in rigorous self-evaluations and strategic planning to enhance the company's governance and operational frameworks.

A notable development this year was the restructuring of the Board and its committees. The resignation of Mr. Aurangzeb was promptly addressed by appointing Mr. Samiullah Khan, who was later succeeded by Ms. Huma Khurram Rashid Paracha due to his subsequent resignation. Additionally, the transition of Mr. Kanwar Adeel Zaman from the Audit Committee to Chief Executive Officer was smoothly managed with Ms. Uzma Piracha stepping into the vacated role.

According to information available from the Pakistan Stock Exchange (PSX), the company has ensured that its internal controls and risk management systems are robust, with regular assessments conducted to maintain efficacy and compliance. The Board's proactive involvement has fostered a culture of transparency and accountability, ensuring that all significant issues are deliberated thoroughly to bolster corporate decision-making processes.

The Board acknowledges the contributions of its directors and management in driving the company's strategic objectives, with a special commendation for Mr. Kanwar Adeel Zaman's leadership as CEO. The emphasis on strategic growth, risk management, and operational oversight continues to be pivotal in AKD Hospitality Limited's sustained success and profitability.