The board of TRG Pakistan Limited has appointed Waleed Tariq Saigol as its chairman, the company informed through a filing at the Pakistan Stock Exchange (PSX) on Tuesday.

“We hereby inform you that the board of TRG Pakistan Limited has appointed Waleed Tariq Saigol as its chairman in place of Peter H.R. Riepenhausen with effect from January 14, 2022,” read the notice.

The statement added that the board reappointed Hasnain Aslam as its Chief Executive Officer (CEO) with effect from January 17, 2022.

The development comes days after the TRG board announced the election of its directors 2022 for a term of three years commencing on January 14, 2022

The newly-elected directors are Khaldoon Bin Latif, Farrukh Imdad, Hasnain Aslam, Waleed Tariq Saigol, John Leone, Patrick McGinnis, Zafar Iqbal Sobani, Abid Hussain, Asad Nasir and Suleman Lalani.

It may be mentioned that TRG Pakistan ex-CEO Zia Chishti also nominated himself for a director's slot but did not get elected.

Last year in November, Zia Chishti resigned from his role as Chief Executive Officer (CEO) and a Director of TRG Pakistan Limited, following allegations of sexual misconduct filed against him by a former co-worker at Afiniti, a US company also founded by Chishti.

Chishti had denied the allegations.

He then also resigned from his positions at The Resource Group (TRG) International Limited, days after he stepped down from his role as chairman, Chief Executive Officer, and director of Afiniti Ltd, the US company that still accounts for 57% of TRG Pakistan’s value.