The Board of Directors of Engro Fertilizers Limited (EFERT) has approved the appointment of Ali Rathore as the company’s Chief Executive Officer (CEO) for 11 months.
EFERT, a subsidiary of Engro Corporation Limited, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.
“This is to inform you that the Board of Engro Fertilizers Limited has approved the appointment of Ali Rathore as CEO of the company with effect from April 26, 2024 for the remainder of the term which will expire on the date of next Board elections i.e. March 21, 2025.
“The current CEO, Ahsan Zafar Syed, shall continue to perform his role till April 25, 2024 after which Ali Rathore will take charge as the new CEO of the company,” read the statement.
Currently, Ali Rathore is serving as the Chief Financial Officer (CFO) of Engro Fertilizers Limited.
Engro Fertilizers’ earnings hit Rs26.2bn in 2023, up 64% YoY
As per information available on Engro Fertilizers website, with over 25 years of experience, Ali’s career spans across USA, UK, Australia, and the MENA region.
“Ali is experienced in Financial Planning & Analysis, Risk Management & Controls, Investor Relations, M&A as well as Financial and Reporting complexities,” information on the website stated.
“Previously, Ali was the CFO for BHP Billiton’s Petroleum division (market cap $11 billion), where he was focused on improving operations by being a commercially agile business partner bringing innovative ideas throughout the product lifecycle.
“Successes included saving $400 million in controllable cash costs and being in the top quartile of companies in the sector as well as exceeding the strategic and financial goals of the company. In addition, team morale was significantly improved through improved work hours and a clear commitment to the growth and development of individuals,” the website stated.
Ali holds an MBA degree from Kellogg School of Management at Northwestern University, is a Fellow Chartered Accountant from The Institute of Chartered Accountants in England and Wales and has a BBA (Hons) in Economics from London Metropolitan University.
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