Junaid Iqbal set to become Engro Corporation CEO in April 2027

Engro Holdings said on September 21, 2026 that the board of Engro Corporation has picked Junaid Iqbal to replace Ahsan Zafar Syed as president and CEO. Iqbal, who currently advises the CEO of Engro Holdings, will take over when Syed's term ends in April 2027. Mettis Global reported that the succession plan is meant to support the company's next phase of growth.

Iqbal's background spans technology, finance and media. At Careem he expanded the Pakistan business, led the Saudi Arabia market and later ran Careem Pay as managing director and global head. Earlier, as chief executive of Elixir Securities, he was involved in privatisation transactions, including the government's $1bn divestment of a 40% holding in HBL.

The board also thanked Syed, pointing to milestones during his tenure such as the EVTL supplemental implementation agreement, the reintegration of thermal assets and the Deodar and EPCL deals. Syed will move into an advisory role for the chairman of Engro Holdings once his term ends. Iqbal will spend the months before April 2027 working closely with Engro's businesses and contributing to strategic priorities under Syed's mentorship.