Junaid Iqbal to become Engro Corporation president and CEO in April 2027

Engro Corporation’s board has approved Junaid Iqbal as successor to President and CEO Ahsan Zafar Syed, with Iqbal set to take charge after Syed completes his term in April 2027, Engro Holdings said Monday.

Iqbal currently serves as adviser to the CEO of Engro Holdings and will engage closely with Engro Corporation’s businesses and operations during the transition period before formally assuming the role.

Who is Junaid Iqbal?

Iqbal has experience across technology, finance and media, including leadership roles at Careem and Elixir Securities.

At Careem, he scaled the company’s Pakistan business, led its Saudi Arabia market and later served as managing director and global head of Careem Pay.

Earlier, as CEO of Elixir Securities, Iqbal helped reposition the firm and worked on privatization transactions, including the government’s USD 1 billion sale of a 40% stake in HBL.

Engro said his experience in platform building, capital allocation and partnership development aligns with its plans to create new growth platforms and enhance its portfolio to generate sustainable long-term returns.

What happens to Ahsan Zafar Syed?

Syed will continue to lead Engro Corporation for the remainder of his term through April 2027.

After completing his tenure, he will become counsel to the chairman of Engro Holdings, allowing the company to continue drawing on his experience and institutional knowledge.

Engro credited Syed’s tenure with several milestones, including the Supplemental Implementation Agreement for EVTL, the reintegration of thermal assets into the portfolio and key transactions involving Deodar and Engro Polymer & Chemicals.

The company also said Engro Corporation was consistently recognized among leading companies on the Pakistan Stock Exchange during his leadership.

How will Engro manage the leadership transition?

Engro said the coming months will support a structured transition, with Iqbal working closely with the company’s businesses and operations before assuming the top role.

Under Syed’s mentorship, Iqbal will also contribute to key strategic priorities before formally becoming president and CEO in April 2027.

Engro said the succession reflects its focus on leadership continuity, corporate governance and long-term succession planning as the group builds on its industrial businesses and develops new platforms for growth.