Engro Holdings Limited (Engro Holdings) on Monday announced that the Board of Directors of Engro Corporation Limited (Engro Corporation) has approved Mr Junaid Iqbal as the successor to Mr Ahsan Zafar Syed for the role of President and Chief Executive Officer (CEO) of Engro Corporation, reported 24NewsHD TV channel.
Junaid Iqbal currently serves as Advisor to the CEO of Engro Holdings and, upon completion of Mr Ahsan Zafar Syed's term in April 2027, will assume the role of President and CEO.
The succession plan reflects Engro's next phase of growth. Over six decades, Engro has built strong industrial businesses and developed deep capabilities in engineering, project development, execution, and governance.
These businesses and capabilities remain the foundation of the Company's success. Looking ahead, Engro sees opportunities to build on these strengths while creating new platforms for growth that can generate long-term value, attract capital, and continue addressing important needs in the economy.
Mr. Junaid Iqbal’s experience is aligned with this ambition. Across technology, finance, and media, he has built, scaled, and transformed businesses in complex environments.
At Careem, he scaled the Pakistan business, led the Saudi Arabia market, and later served as Managing Director and Global Head of Careem Pay.
Earlier, as CEO of Elixir Securities, he helped reposition the firm and worked on privatization transactions, including the Government's $1bn sale of a 40% stake in HBL.
His experience in platform building, capital allocation, and partnership development complements Engro's existing strengths and will support the Company's next phase of growth as it looks to enhance its portfolio to deliver sustainable long-term returns.
The Board also thanked Mr. Ahsan Zafar Syed for his exceptional contributions, noting that he would continue to lead Engro Corporation for the rest of his term, as he has done with distinction.
Reporter: Ashraf Khan