Junaid named Engro president, CEO

Business Recorder reported that Engro Corporation's board has approved Junaid Iqbal to replace Ahsan Zafar Syed as its president and CEO from April 2027. Iqbal currently advises the chief executive of Engro Holdings and will take over once Syed completes his current term. The company described the appointment as a step in readying its next growth phase, which will rest on existing industrial operations and new platforms.

Engro said six decades of expertise in engineering, project work, execution and governance will remain central to its businesses as it moves into new growth areas. Iqbal's background spans technology, finance and media. At Careem he expanded the Pakistan operation, ran the Saudi market and later headed Careem Pay as managing director and global head. Earlier, as chief executive of Elixir Securities, he worked on privatisation deals, including a USD 1 billion government sale covering 40 percent of HBL.

Syed will become Counsel to the Chairman of Engro Holdings after his term, a role the company said will let it keep drawing on his experience. Until April 2027 the handover will be structured, with Iqbal learning the group's operations and contributing to strategic priorities under Syed's mentorship. Engro credited Syed's tenure with milestones such as the supplemental implementation agreement for Engro Vopak Terminal Limited (EVTL), the return of thermal assets and the Deodar and EPCL transactions.