Karachi: Arctic Textile Mills Limited has officially announced the resignation of two directors, affecting the company's leadership structure. Mrs. Saira Affan stepped down on October 23, 2024, followed by Mr. Usman Mahmood, marking a significant change in the board's composition.

Arctic Textile Mills, a notable player in the textile industry, disclosed through a formal notice to the Pakistan Stock Exchange (PSX) that Mrs. Saira Affan has relinquished her position as a director. The company's announcement also indicated that Mr. Usman Mahmood has similarly resigned from his directorial role. Both resignations are effective immediately, with Mrs. Affan stepping down on October 23 and Mr. Mahmood on the same date.

According to information available from the Pakistan Stock Exchange (PSX), the departures of Mrs. Affan and Mr. Mahmood have created casual vacancies on the board, which the company plans to fill within the stipulated time frame as per corporate governance requirements.

The company has communicated these changes to TRE Certificate Holders and assured stakeholders of its commitment to maintaining robust leadership. The Secretary, Ali Mudassar, expressed gratitude towards the resigning directors for their contributions and affirmed the board's efforts to ensure a smooth transition.

Arctic Textile Mills Limited is headquartered in Faisalabad, with extensive operations that impact local and international markets. The company's shares and market performance will continue to be closely monitored by investors and market analysts following these changes in its executive board.