Karachi: Calcorp Limited has announced a significant change in its leadership, with Mr. Saad Saeed Faruqui stepping down as Chairman of the company, effective May 30, 2025. Mr. Muhammad Hanif Shaikh has been appointed as the new Chairman, marking a pivotal transition in the company's governance.

The announcement was made through a formal communication to the TRE Certificate Holders of the Exchange. The change in leadership comes at a crucial time for Calcorp Limited as it navigates its position in the market amidst evolving business conditions.

According to information available from the Pakistan Stock Exchange (PSX), Calcorp Limited is categorized within the designated market category for industrial companies. The company has been focusing on expanding its operations and improving its market share, making the leadership change a strategic decision.

The appointment of Mr. Muhammad Hanif Shaikh is expected to bring a new perspective to the company's strategic direction. Mr. Shaikh, with his extensive experience, is anticipated to guide Calcorp Limited through its next phase of growth and development.

The transition in leadership is seen as a part of Calcorp Limited's broader efforts to strengthen its management team and enhance its corporate governance framework. The company has communicated the change to all relevant stakeholders to ensure a smooth transition and continuity in operations.