A dramatic situation emerged at Engro Corporation on Tuesday as one board member of the organization has been promoted to be its head and one had to go home in protest.
Aliuddin Ansari has been appointed as new CEO and President of Engro Corporation. The news of his appointment propped up few hours after EconomyAge first reported resignation of Khalid Mansoor, CEO of Engro Fertilizer, which upside down the corporate and business world.
It is matter of fact that the new head is junior having little association with Engro group compared with Khalid Mansoor, who was senior board member and considered as crucial part of the organization for long time.
Khalid Mansoor has been board member since 2005. He was a Senior Vice
President of Engro Corporation Limited since January 2012 and two subsidiaries of the conglomerate– Engro Fertilizers Limited and Sindh Engro Coal Mining Company.
However, Aliuddin Ansari is one of the directors of Engro Corporation and has been associated with the company since 2009.
Sources in the company told EconomyAge on condition of anonymity that Khalid was resigned while citing personal reasons but he had been in tense relationship within organization board members, which became a hurdle in his way to become Engro head.
The whole situation was grimed after Asad Umar left the company to
join Pakistan Tahreek-i-Insaaf recently.
Aliuddin Ansari, the new President CEO, was CEO of Dewan Drilling, Pakistan’s first independent Oil & Gas drilling Company. Ansari started his career as an Investment Manager at World Invest and Bank of America in London. He has also served as the CEO of AKD Securities and COO, Emerging Europe for Credit Lyonnais Securities.
He is also on the Board of National Clearing Company of Pakistan, Sindh Engro Coal Mining Company (SECMC) and Dawood Hercules Corporation Limited and former Karachi Stock Exchange.
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