Engro Holdings Limited has announced a major leadership transition at Engro Corporation Limited. The company’s Board of Directors has approved Junaid Iqbal as the next President and CEO.
Iqbal will succeed Ahsan Zafar Syed after Syed completes his term in April 2027. Iqbal currently serves as Advisor to the CEO of Engro Holdings.
The company said the succession plan is part of its strategy for the next phase of growth. Engro aims to build on its industrial expertise while developing new platforms and long-term investment opportunities.
Junaid Iqbal Brings Technology and Finance Experience
Iqbal has experience across technology, finance and media. He has led businesses through expansion and transformation in complex markets.
At Careem, he helped scale the company’s Pakistan operations before leading its Saudi Arabia market. He later served as Managing Director and Global Head of Careem Pay.
Earlier, Iqbal served as CEO of Elixir Securities. During his tenure, he worked on major capital market and privatization transactions, including the government’s $1 billion sale of a 40 percent stake in Habib Bank Limited.
Engro said his experience in building platforms, allocating capital and developing partnerships will complement the company’s existing capabilities.
Ahsan Zafar Syed to Continue Until April 2027
The Engro Board also recognized Syed’s contribution during his tenure as President and CEO.
Under his leadership, Engro Corporation completed several major strategic initiatives. These included the Supplemental Implementation Agreement for EVTL, the reintegration of thermal assets and transactions involving Deodar and EPCL.
The company said Engro Corporation was also consistently recognized among leading companies listed on the Pakistan Stock Exchange during his tenure.
After completing his term, Syed will become Counsel to the Chairman of Engro Holdings. The new role will allow the group to continue benefiting from his experience and institutional knowledge.
Leadership Transition to Begin Before 2027
Engro said the transition process will begin well before Iqbal formally assumes the CEO position.
Iqbal will work closely with Engro’s businesses and management teams to understand the group’s operations and strategic priorities.
He will also work under Syed’s mentorship during the transition period.
Engro said the structured handover is designed to ensure continuity while preparing the company for its next phase of growth.
