Engro Corporation, Pakistan’s premier business conglomerate announces transition in leadership

KARACHI, Jan 31 (SABAH): Engro Corporation, Pakistan’s premier business conglomerate, has announced the appointment of Ahsan Zafar Syed as President & CEO Designate.

Ghias Khan will continue to serve as President & CEO of Engro Corporation until the end of his term in April 2024. Ahsan, currently CEO of Engro Fertilizers, began his professional career with Engro (then Exxon Chemical Pakistan Limited) over 30 years ago. Ahsan played a pivotal engineering role in the construction of the EnVen plant for Engro Fertilizers, which is the second-largest single train urea plant in the world.

To date, the EnVen plant has been Engro’s largest project and investment, amounting to USD 1.1 billion at the time. As the CEO of Engro Energy, power and mining projects collectively amounting to USD 1.9 billion were established under Ahsan’s leadership, enabling Engro’s energy vertical to successfully unearth the country’s largest coal reserves in Thar.

In a PSX notification, “The Board has also expressed its deepest gratitude towards the existing President & CEO, Ghias Khan, whose leadership and dedication has helped in the substantial growth of the Company.”

Over the last 7 years, Engro has achieved historic performance milestones under Ghias’s leadership. Its flagship business, Engro Fertilizers, recently became the most valuable fertilizer company on the PSX, the Thar project was completed successfully, VOPAK became a partner in its LNG Terminal, while Engro also started a new telecommunication infrastructure vertical through Engro Enfrashare and established Engro FZE in Dubai to enter regional trade. Ghias implemented Engro Corporation’s current operating model, based on which the Engro enterprise received several awards – most recently four of its Group companies were in the top six of the PSX awards for 2023 and Engro was voted as a leading employer of choice.