Karachi, January 31, 2024 – Engro Corporation, a prominent business conglomerate in Pakistan, has made a significant leadership announcement with the appointment of Ahsan Zafar Syed as President & CEO Designate.
Ahsan, currently serving as the CEO of Engro Fertilizers, will take on his new role as the head of Engro Corporation, succeeding Ghias Khan, who will continue as President & CEO until the conclusion of his term in April 2024.
Ahsan Zafar Syed brings over three decades of experience to his new position, having commenced his professional journey with Engro, formerly known as Exxon Chemical Pakistan Limited. Notably, he played a crucial role in the construction of the EnVen plant for Engro Fertilizers, recognized as the world’s second-largest single train urea plant. This project marked Engro’s most substantial investment at USD 1.1 billion at the time.
During his tenure as the CEO of Engro Energy, Ahsan spearheaded power and mining projects collectively valued at USD 1.9 billion. His leadership led to the successful establishment of energy initiatives, including the exploration of Pakistan’s largest coal reserves in Thar.
In a notification to the Pakistan Stock Exchange (PSX), the Board expressed gratitude to the outgoing President & CEO, Ghias Khan, acknowledging his instrumental role in the substantial growth of Engro Corporation. Under Ghias Khan’s leadership over the past seven years, Engro achieved historic milestones, with flagship business Engro Fertilizers becoming the most valuable fertilizer company on the PSX.
Several key achievements were credited to Ghias Khan’s tenure, such as the successful completion of the Thar project, the strategic partnership with VOPAK for the LNG Terminal, the establishment of a telecommunication infrastructure vertical through Engro Enfrashare, and the creation of Engro FZE in Dubai to enter regional trade.
Additionally, Ghias Khan implemented Engro Corporation’s current operating model, earning the enterprise numerous accolades. Notably, the Group’s companies secured top positions in the PSX awards for 2023, and Engro was recognized as a leading employer of choice.
As Ahsan Zafar Syed steps into his new role, he inherits a legacy of success and growth at Engro Corporation. His extensive experience within the organization, combined with his leadership in pivotal projects, positions him well to steer the conglomerate through its next phase of development and expansion. The transition is expected to be seamless, with a continued focus on innovation, sustainability, and strategic initiatives that contribute to Engro Corporation’s continued success in the diverse sectors it operates within.
