Engro Corporation announces new CEO

Ansari takes over from long-serving Asad Umar.


Our Correspondent April 25, 2012

KARACHI: Engro Corporation Limited has appointed Muhammad Aliuddin Ansari as the new President and CEO of to fill in the shoes of long-serving Asad Umar.

Before joining Engro, Ansari was the CEO of Dewan Drilling, Pakistan’s first independent oil and gas drilling company, says a press statement issued by Engro on Tuesday. Starting off his career as an Investment Manager at WorldInvest/ Bank of America in London, he has served as the CEO of AKD Securities, COO of Emerging Europe for Credit Lyonnais Securities.

The decision taken by the board of directors comes a week after Asad Umar announced his retirement and decided to join political party Pakistan Tehreek-e-Insaf. Ansari will assume the responsibility from May 12, 2012, adds the statement.

Ansari was also a member on the board of Lucky Cement, the Karachi Stock Exchange, National Clearing Company of Pakistan and Al Meezan Investment Management.

He has been on Engro’s board since 2009 and is also part of Board Audit Committee and Chairman of the Board Investment Committee.

Engro Corporation’s stock price fell Rs1.03 to close at Rs.97.51 during trade at the Karachi Stock Exchange.

Published in The Express Tribune, April 25th, 2012.

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COMMENTS (4)

Naveed Abbas | 9 years ago | Reply

Muhammad Aliuddin Ansari Sahab,

Engro is a high trust organization. Mr. Asad Umar (Ex CEO Engro) professionalism stays par excellence. I wish him high success in his new political set-up. Please accept my hearfelt congratulations on getting the big seat of CEO MashAllah. Considering your extensive and solid experience, I am sanguine you will excercise 'best practices' for greater good.

May Allah give you success and victory in all the fields of life.

Best,

mohammad bilal | 9 years ago | Reply

Aslam o alaikum congratulations on becoming the cheif executive. respected, serve as asad umar was. we investors in engro corporation say welcome in engro cooperation ALLAH almighty keep you cheering

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