Karachi, Engro Corporation Limited, a prominent name in the corporate landscape, has made notable changes to its leadership and board composition, signaling strategic shifts within the organization. In compliance with legal requirements, Engro Corporation issued a statement detailing the recent decisions made by its Board of Directors in a meeting held on August 16, 2023.
Firstly, Mr. Mazhar Abbas Hasnani, who had been serving as Chief Financial Officer of the Company, has stepped down from his role. In his stead, Mr. Farooq Barkat Ali has been designated as the new Chief Financial Officer, bringing with him a wealth of financial expertise and experience.
In a significant board-level development, Mr. Mazhar Abbas Hasnani has been appointed as a non-executive director, filling a casual vacancy on the Board. This move follows the untimely demise of (Late) Shahzada Dawood, prompting Engro Corporation to co-opt Mr. Hasnani as part of its Board composition.
Furthermore, the role of Company Secretary has also seen a transition. Ms. Shomaila Loan has officially stepped down from the position, and the responsibilities of the Company Secretary will now be carried out by Mr. Mohammad Yasir Khan.
These changes, effective from August 18, 2023, reflect Engro Corporation's commitment to prudent leadership transitions, effective governance, and ensuring the continuity of its operations. The company's willingness to adapt its leadership team underscores its responsiveness to dynamic market conditions and its ongoing efforts to position itself for sustained growth.
For further insights into the background and expertise of the individuals mentioned, interested parties are encouraged to visit Engro Corporation's official website at www.engro.com, where detailed profiles of the new Board member and officers can be found.