Engro Holdings Limited announced that the Board of Directors of Engro Corporation Limited has approved Mr. Junaid Iqbal as the successor to Mr. Ahsan Zafar Syed as President and Chief Executive Officer, effective April 2027. Mr. Iqbal, who currently serves as Advisor to the CEO of Engro Holdings, will assume leadership upon completion of Mr. Syed’s term. The appointment marks a significant milestone in Engro’s succession planning and reflects the Company’s commitment to continuity, governance, and long-term growth.

Engro’s Board noted that the succession aligns with the Corporation’s next phase of expansion. Over six decades, Engro has developed strong industrial businesses and deep capabilities in engineering, project development, and governance. The new leadership aims to build on these foundations while creating new platforms for sustainable growth and value creation.

Mr. Junaid Iqbal brings a diverse background spanning technology, finance, and media. At Careem, he led operations in Pakistan and Saudi Arabia, then served as Managing Director and Global Head of Careem Pay. Earlier, as CEO of Elixir Securities, he played a key role in major privatization transactions, including the Government’s USD 1 billion sale of a 40% stake in HBL. His experience in scaling platforms and managing capital allocation complements Engro’s strategic ambitions.

The Board expressed appreciation for Mr. Ahsan Zafar Syed’s exceptional leadership, under which Engro achieved major milestones such as the Supplemental Implementation Agreement for EVTL, reintegration of thermal assets, and landmark transactions including Deodar and EPCL. Mr. Syed will continue to lead Engro Corporation until April 2027 and will thereafter serve as Counsel to the Chairman of Engro Holdings, ensuring continuity and institutional wisdom.