KARACHI: Engro Holdings Limited has announced the appointment of Mr. Junaid Iqbal as the successor to Mr. Ahsan Zafar Syed as President and Chief Executive Officer of Engro Corporation Limited.
Mr. Junaid Iqbal, who currently serves as Advisor to the CEO of Engro Holdings, has been approved by the Board of Directors of Engro Corporation to become President and CEO upon the completion of Mr. Ahsan Zafar Syed’s current term in April 2027.
The leadership transition is part of Engro’s succession planning and reflects the company’s vision for its next phase of growth. Over more than six decades, Engro has developed strong industrial businesses and deep capabilities in engineering, project development, execution and governance, which continue to provide the foundation for its long-term growth.
Junaid Iqbal brings extensive experience across technology, finance and media, having built, scaled and transformed businesses in complex and competitive markets. During his tenure at Careem, he scaled the company’s Pakistan operations, led its 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 was involved in major capital-market and privatization transactions, including the Government of Pakistan’s $1 billion sale of a 40 percent stake in Habib Bank Limited (HBL).
His experience in platform development, capital allocation and strategic partnerships is expected to complement Engro’s existing industrial strengths as the company explores new platforms for growth, attracts capital and seeks to create sustainable long-term value.
The Board also acknowledged the significant contributions of outgoing President and CEO Ahsan Zafar Syed. During his tenure, Engro Corporation achieved several important milestones, including the Supplemental Implementation Agreement for Engro Vopak Terminal Limited (EVTL), the reintegration of thermal assets into the portfolio, and major transactions including the Deodar and Engro Polymer & Chemicals Limited (EPCL) deals.
Under his leadership, Engro Corporation was also consistently recognized among the leading companies listed on the Pakistan Stock Exchange.
Following the completion of his term in April 2027, Ahsan Zafar Syed will be elevated to the position of Counsel to the Chairman of Engro Holdings, allowing the group to continue benefiting from his experience and institutional knowledge.
The company said the transition period will facilitate a structured and seamless handover. Junaid Iqbal will work closely with Engro’s businesses and operations to develop a comprehensive understanding of the organization and its diverse portfolio.
He will also contribute to key strategic priorities under the mentorship of Ahsan Zafar Syed before formally assuming the position of President and CEO of Engro Corporation in April 2027.
The transition underscores Engro’s continued focus on succession planning, corporate governance and leadership continuity as the group enters its next phase of growth.
