Engro Holdings Limited has announced the appointment of Junaid Iqbal as President and CEO-Designate of Engro Corporation Limited, succeeding Ahsan Zafar Syed, whose current term is scheduled to end in April 2027.
In a filing with the Pakistan Stock Exchange (PSX), Engro Holdings said the Board of Directors of Engro Corporation, its wholly owned subsidiary, had approved Junaid Iqbal’s appointment as President and CEO-Designate.
Junaid Iqbal currently serves as Advisor to the CEO of Engro Holdings. He will assume the position of President and CEO of Engro Corporation after Ahsan Zafar Syed completes his term in April 2027.
According to Engro, Iqbal has extensive experience in building, scaling and transforming businesses across complex markets. During his career at Careem, he helped scale the company’s Pakistan operations, led its Saudi Arabia business and later served as Managing Director and Global Head of Careem Pay.
Before joining Careem, Iqbal served as CEO of Elixir Securities, where he helped reposition the company and worked on major transactions, including the government’s $1 billion sale of a 40% stake in Habib Bank Limited (HBL).
Engro Holdings also acknowledged Ahsan Zafar Syed’s contribution during his tenure as President and CEO of Engro Corporation. The company highlighted several milestones achieved under his leadership, including the Supplemental Implementation Agreement for EVTL, the reintegration of thermal assets into the group’s portfolio, and major transactions involving Deodar and Engro Polymer and Chemicals Limited (EPCL).
Engro Corporation was also consistently recognised among the leading companies listed on the Pakistan Stock Exchange during his tenure.
Following the completion of his term, Ahsan Zafar Syed will become Counsel to the Chairman of Engro Holdings. The company said the leadership transition would be carried out through a structured process over the coming months.
During the transition period, Junaid Iqbal will work closely with Engro’s businesses and operations. With guidance and mentorship from Ahsan Zafar Syed, he will also participate in key strategic priorities before formally taking charge as President and CEO of Engro Corporation in April 2027.
