Karachi: In a significant development for the Pakistani cement industry, Attock Cement Pakistan Limited has announced a comprehensive restructuring of its board and management, effective immediately. The announcement came after an emergent board meeting held on April 28, 2026, reflecting the ongoing changes following the acquisition of the company by Fauji Cement Company Limited (FCCL) and Kot Addu Power Company Limited (KAPCO).

In compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, the company confirmed the acceptance of resignations from seven members of its board of directors. The outgoing directors, whose resignations were effective from April 28, 2026, include Mr. Laith G. Pharaon, Mr. Wael G. Pharaon, Mr. Shuaib Anwar Malik, Mr. Abdus Sattar, Mr. Shamim Ahmad Khan, Mr. Agha Sher Shah, and Mr. Mohammad Haroon. The board has expressed its gratitude for their contributions during their tenure.

Concurrently, Attock Cement has appointed seven new directors to the board, who will serve until the next election of directors. The newly appointed directors are Lt. Gen. Anwar Ali Hyder, HI (M), Retd., Lt. Gen. Muhammad Saeed, HI (M), Retd., Mr. Majid Munir, Mr. Muhammad Masood, Ms. Shabnam Faqir Mohammad, Mr. Aamir Malik, and Mr. Mudassir Khan. These appointments reflect a strategic shift in leadership as the company navigates its new ownership structure.

Furthermore, the board announced the appointment of Lt. Gen. Anwar Ali Hyder, HI (M), Retd. as the new Chairman, succeeding Mr. Shuaib Anwar Malik. This change is effective immediately and will last for the remainder of the term of the outgoing Chairman.

In another significant move, Mr. Omer Ashraf has been appointed as the Acting Chief Executive Officer, taking over from Mr. Babar Bashir Nawaz. According to information available from the Pakistan Stock Exchange (PSX), this change in leadership will commence on May 2, 2026.

These leadership changes underscore the ongoing evolution within Attock Cement Pakistan Limited, aligning with the strategic objectives of its new majority shareholders, FCCL and KAPCO. The company has communicated these developments to the Trading Rights Entitlement (TRE) Certificate Holders of the Exchange, marking a pivotal moment in its corporate trajectory.