KARACHI: Engro Corporation Limited’s board of directors has approved Junaid Iqbal as president and CEO-designate, set to succeed incumbent chief Ahsan Zafar Syed upon the completion of his term in April 2027, the parent company announced Monday.
Engro Holdings Limited disclosed the planned leadership transition in a filing to the Pakistan Stock Exchange. Iqbal currently serves as an advisor to the CEO of Engro Holdings.
Iqbal brings extensive experience across technology, finance, and media. He previously scaled ride-hailing company Careem’s operations in Pakistan, oversaw its market in Saudi Arabia, and served as managing director and global head of Careem Pay. Earlier in his career, as CEO of Elixir Securities, he managed financial privatization transactions, including the Pakistani government’s $1 billion divestment of a 40% stake in Habib Bank Limited.
Syed will remain in his position to lead Engro Corporation through the remainder of his term. During his leadership, the company executed several major transactions, including the Supplemental Implementation Agreement for Engro Vopak Terminal Limited, the reintegration of thermal assets into its portfolio, and key deals involving Deodar and Engro Polymer & Chemicals Limited.
Once Syed completes his term in April 2027, he will step into a new role as counsel to the chairman of Engro Holdings.
The company stated that Iqbal will work closely with Engro’s operations and leadership over the coming months under Syed’s mentorship to facilitate a structured transition before formally taking charge.
