Muhammad Aliuddin replaces Asad Umar for the post, which he had held for almost 8 years in his 27 year period with the company. - File photo

ISLAMABAD: The Board of Directors of Engro Corporation Limited Tuesday announced the appointment of Muhammad Aliuddin Ansari as the new President and CEO of Engro Corp.

Mr. Ansari takes over the Company from the outgoing President and CEO, Asad Umar, who had served Engro for over 27 years in various roles before taking over as the President in 2004.

Prior to joining Engro Corp. Muhammad Aliuddin was the CEO of Dewan Drilling, Pakistans first independent Oil & Gas drilling company.

He started off his career as an Investment Manager at WorldInvest/Bank of America in London and has also served as the CEO of AKD Securities and COO, Emerging Europe for Credit Lyonnais Securities. He has also served on the boards of Lucky Cement, the Karachi Stock Exchange, National Clearing Company of Pakistan and Al Meezan Investment Management.

He has been a member of the Engro Corp board since 2009 and is also on the Board Audit Committee and is the Chairman of the Board Investment Committee.